US and China to Initiate Trade Discussions in Switzerland

US Treasury Secretary Scott Bessent has announced that the United States and China will commence their highly anticipated trade talks on Saturday, May 10, in Switzerland. Bessent emphasized that the initial meeting will focus on laying the groundwork for future discussions rather than diving into advanced trade negotiations.

Focus on De-escalation Before Progress

During his testimony before the Financial Services and General Government Subcommittee, Bessent shared his perspective on the upcoming talks. "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, highlighting the importance of reducing tensions between the two economic powerhouses.

Key Figures to Lead the Negotiations

The US delegation, including Bessent and US Trade Representative Jamieson Greer, is set to meet with China's Vice Premier Lifeng He, who serves as President Xi Jinping's economic advisor. Vice Premier He's visit to Switzerland from May 9 to 12 marks a critical moment for both nations as they seek to navigate their complex trade relationship.