Senior officials from the United States and China will meet this week in Switzerland for high-level talks aimed at easing mounting tensions in an intensifying trade war between the world’s two largest economies.
Chinese Vice Premier He Lifeng will lead the delegation from Beijing, while US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will represent Washington. The negotiations, scheduled from May 9 to 12, mark the first formal engagement between the two powers since Chinese Vice President Han Zheng attended President Donald Trump’s inauguration in January.
The talks come amid rising economic friction. Since returning to office, President Trump has imposed sweeping tariffs of up to 145% on a wide range of Chinese imports. China has responded with its own retaliatory measures, placing tariffs as high as 125% on US goods.
In a statement ahead of the talks, Secretary Bessent emphasized the US goal of rebalancing the global economic system. “This is about de-escalation. We have to stabilize the situation before making any broader trade deal,” he told Fox News.
A spokesperson for China’s Ministry of Commerce issued a firm response, stating that “the United States must recognize the harmful impact of unilateral tariff actions on itself and the global economy.” Chinese state media echoed the sentiment, indicating Beijing’s willingness to engage in dialogue, but warning that it would “fight to the end” if necessary.
Despite the significance of the meeting, trade experts remain cautious. Deborah Elms of the Hinrich Foundation noted, “This is a starting point, not a breakthrough. It’s unlikely to deliver the results people might hope for right away.” Henry Gao, a law professor and former World Trade Organization official, predicted the negotiations could stretch on for months or even longer.
The ongoing trade conflict has rattled global markets and disrupted supply chains. Nevertheless, investors reacted positively to news of the upcoming talks. Stock markets in mainland China and Hong Kong saw gains on Wednesday, buoyed by optimism over negotiations and new economic support measures announced by Chinese authorities. US stock futures also edged higher ahead of a closely watched interest rate decision from the Federal Reserve.
While the Geneva talks may not yield immediate results, they represent a crucial step toward cooling one of the world’s most consequential economic stand-offs.
