Washington's top officials will have to meet in Switzerland this weekend to meet a high-level Chinese delegation in the first major talks of the two countries after President Donald Trump launched a trade war with strong tariffs for imports.
Treasury secretary Scott Bessent and US trade representative Jamieson Greer will meet with their colleagues in Geneva in the most known conversations with their colleagues, the Trump administration said Tuesday. It comes in the middle of the US to grow on tariffs on the prices and supply of consumer goods.
Trump's trade war has been harder than China, the world's largest exporter and the second largest economy. When Trump announced on April 2, the tariffs of his liberation day, China took its tariffs – a step that Trump considered to show a lack of respect. Since then, the tariffs of each other's goods have grown, US tariffs against China are now 145% and Chinese tariffs for the US 125%.
American companies have already begun to cancel orders from China by postponing expansion plans and pursuing the tariff war.
Trump had previously claimed that the US and China had negotiated the reduction of tariffs that Beijing had denied, saying that Trump must first reduce its strong tariffs. Earlier on Tuesday, the Mayor's Committee admitted that the US and China have not “negotiated”, but “already this week”, US trade transactions with some of the largest US trade partners are announcing.
The Chinese Ministry of Commerce approved a meeting between Vice President and Bessent in Switzerland on Tuesday.
“The Chinese side carefully evaluated information from the US side and decided that it was in contact with the US side after the full consideration of global expectations, Chinese interests, and US companies and consumer calls,” the ministry spokesman said.
According to a spokesman, China would not sacrifice its principles or global equity or justice.
Most economists have said that the cost of tariffs is given to consumers as prices for higher prices, food products, housing and other goods. And higher prices are already becoming a burden on US consumers who are in the largest economic funk after the cozy-19 pandemic. Meanwhile, economists claim that the risk of recession is increasing.
Wendy Cutler, a former US trade officer and now Vice President of the Asian Society's Political Institute, said that the upcoming meeting is a welcome development.
“As the meeting of US higher and Chinese officials after Trump's appointment is important, this is an important way to keep preliminary talks to cause the cancellation, mapping and worries about tariffs,” Cutler said. “We should not wait for quick victory – this is a process that takes time.”
In Switzerland, Bessent and Greer also plan to meet the Swiss President Karin Keller-Sutter, according to the data of the corresponding offices.
Both Greer and Besent had talked to their colleagues before the commerce war began.
Greer told Fox News Channel last month that he talked to his Chinese colleagues over an hour before the commencement of the trade war. “I thought it was constructive,” he said, adding: “It's not just a plan to surround China. It's a plan to improve the American economy, have most of the production as GDP to get real wages to produce things to get the economy funded by the government.”
And Bessent talked to Chinese Vice -President He Lifen in February to exchange views of bilateral economic relations, according to the Treasury's press release.
Associated Press writer Paul Wiseman contributed to this report.
