US Treasury Secretary Announces Preliminary Talks

US Treasury Secretary Scott Bessent revealed that the initial discussions between the US and China are scheduled for Saturday, May 10, in Switzerland. These talks are aimed at laying the groundwork for future negotiations rather than delving into advanced trade agreements.

Focus on De-escalation

Bessent emphasized the importance of de-escalation in current US-China relations during his testimony before the Financial Services and General Government Subcommittee. "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 to Lead Negotiations

The US delegation, including Bessent and US Trade Representative Jamieson Greer, 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.