US-China Trade Talks Kick Off in Switzerland

US Treasury Secretary Scott Bessent revealed that pivotal discussions between the US and China are scheduled to start on Saturday, May 10, in Switzerland. These initial talks aim to lay the groundwork for future negotiations rather than delving into advanced trade agreements.

De-escalation Before Progress

During his testimony before the Financial Services and General Government Subcommittee, Bessent emphasized the importance of de-escalation in current tensions. "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," he stated.

Key Figures in the Talks

Accompanied by US Trade Representative Jamieson Greer, Bessent will meet with China's Vice Premier Lifeng He, President Xi Jinping's economic advisor, during his visit to Switzerland from May 9 to 12.