US and China to Initiate Trade Discussions in Switzerland

In a significant move towards easing trade tensions, US Treasury Secretary Scott Bessent has announced that preliminary talks with China are scheduled to start on Saturday, May 10, in Switzerland. Bessent emphasized that the upcoming meeting is aimed at laying the groundwork for future discussions rather than diving into advanced trade negotiations.

"The focus will be on de-escalation first, before any major trade agreements can be considered," Bessent stated during his testimony at the Financial Services and General Government Subcommittee hearing. This approach underscores the US's strategy to reduce tensions as a precursor to more substantive trade talks.

Accompanying Bessent will be US Trade Representative Jamieson Greer, as they prepare to engage with China's delegation led by Vice Premier Lifeng He. Vice Premier He, who serves as President Xi Jinping's economic advisor, is expected to be in Switzerland from May 9 to 12, providing a timely opportunity for these critical discussions.