This weekend marks the first significant meeting between US and Chinese officials since President Trump imposed substantial tariffs on China. Treasury Secretary Scott Bescent anticipates that discussions will focus heavily on “abdication.”
Bescent addressed the meeting on Fox News with Laura Ingraham, saying, “We agreed to talk, and by Saturday and Sunday, we’ll finalize our agenda.”
He emphasized that this gathering isn’t about striking a massive trade deal but more about reducing tensions. “We have to escalate before we can move forward,” he noted.
Traveling to Switzerland on Thursday, Bescent plans to meet with Swiss President Karin Keller Sutter to follow up on discussions during last month’s World Bank Group and International Monetary Fund meetings, as indicated by the Treasury Department.
While in Switzerland, he will also connect with the key representative on economic issues from China.
The Associated Press reported that US trade representative Jamieson Greer will also participate in the discussions with China.
Bescent, when asked on “Ingraham’s Angle” about which country initiated the meeting, stated, “There’s no first call; it’s more complex than that.”
He clarified that the US and China are not currently negotiating tariff reductions, indicating this weekend’s meeting is more about collaboration than formal agreements. “The world was with the US and China was a key player,” he remarked.
Bescent had initially intended to negotiate only with Switzerland but learned that the Chinese delegation was also in Europe, leading to a joint meeting over the weekend.
Regarding the heavy tariffs—145% imposed on US by-products—he remarked, “This level isn’t sustainable for China, in particular, especially since it resembles an embargo.”
He confirmed that the US won’t deviate from its strategy, even as Beijing previously requested a halt to tariffs before any negotiations begin. “Everything is negotiable,” he added, specifying that it’s ultimately up to Trump to determine the next steps.
He concluded by stating that, alongside President Trump, maintaining strategic uncertainty guarantees the best possible outcome for negotiations.
