US-China Trade Talks Kick Off in Switzerland

US Treasury Secretary Scott Bessent has announced that initial talks between the US and China are scheduled to start on Saturday, May 10, in Switzerland. Bessent emphasized that the meeting is a preliminary step aimed at planning future discussions rather than engaging in advanced trade negotiations.

During his testimony before the Financial Services and General Government Subcommittee, Bessent shared his perspective, stating, "My sense is that this will be about de-escalation, not about the big trade deal. But we've got to de-escalate, before we can move forward."

Accompanying Bessent, US Trade Representative Jamieson Greer will also travel to Switzerland this week. They are set to meet with Vice Premier Lifeng He, President Xi Jinping's economic advisor, who is visiting Switzerland from May 9-12.