Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are set to meet with their Swiss and Chinese counterparts this week to talk about trade issues, especially in light of the ongoing tensions between the world’s two largest economies.
Bessent is scheduled to travel to Switzerland on Thursday, where he will have discussions with the Swiss president and engage with key Chinese economic officials, according to his office.
“We anticipate productive discussions as we aim to reshape the international economic system to better reflect US interests,” Bessent remarked in a statement.
Concurrently, Greer’s office announced that he will also go to Switzerland this week for meetings with the World Trade Organization staff and the Swiss president. He is expected to converse with his Chinese counterpart in Geneva regarding trade matters.
This gathering marks the first publicly known interactions between Washington and Beijing as both countries continue imposing tariffs amid a rising trade conflict.
Bessent disclosed on Tuesday that there have been no further negotiations with China regarding the trade agreement, despite recent indications from administrative officials, including President Trump, of potential discussions with Beijing.
In April, the Trump administration enacted “mutual” tariffs affecting several countries, among them China, Japan, South Korea, India, the EU, and Thailand.
Trump later announced a 90-day period during which these tariffs decreased to 10%, while China’s tariffs were raised to 125%, on top of the existing 20% tariffs imposed on fentanyl production.
Beijing retaliated with tariff increases on US imports, stoking fears of a trade war that may cause consumer prices to rise.
The US is pursuing possible trade agreements with countries such as South Korea, Japan, and the UK, though Trump indicated on Tuesday that these deals might not follow conventional approaches.
