The United States and China are set to hold crucial talks in Switzerland amid escalating trade tensions.
US Treasury Secretary Scott Bessent will meet with Vice Premier He Lifeng, China’s representative, in a bid to ease the trade war between the two nations.
The decision to hold talks comes in response to global expectations, China’s own economic interests, and calls from US industry and consumers. This meeting marks the first senior-level contact since the trade conflict between the world’s two largest economies flared up in early April.
The trade war has seen the US impose tariffs of up to 145% on imports from China, prompting Beijing to retaliate with its own duties of up to 125% on US goods.
However, both sides have issued exemptions for critical items like electronics to mitigate the economic fallout.
US President Donald Trump has made conflicting statements about the status of talks with Beijing.
He previously claimed there had been exchanges between the two sides, including a telephone call with Chinese leader Xi Jinping, but Beijing denied those claims.
In a recent statement, Trump said Chinese officials want to negotiate an easing of the trade war and that talks would take place “at the right time.”
