Amid rising trade tensions between the United States and China, senior officials from both nations have agreed to hold negotiations in Switzerland. These talks, scheduled from May 9 to 12, 2025, in Geneva, mark the first formal engagement between the world’s two largest economies following the imposition of heavy reciprocal tariffs.
During the meetings, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with He Lifeng, China’s Vice Premier. The primary goal of these discussions is to ease tensions and explore possible solutions to improve trade relations.
The tariffs imposed by the Trump administration on Chinese imports have reached 145%, while China has responded with tariffs of up to 125% on American goods. These measures have significantly reduced trade between the two countries and raised global concerns over a potential economic downturn.
Scott Bessent stated in an interview that the talks aim to de-escalate tensions rather than achieve a comprehensive trade agreement. “We are not seeking a decoupling from China, but rather fair trade,” he said.
Meanwhile, China has agreed to the negotiations, taking into account national interests and requests from American industries. The Chinese Ministry of Commerce emphasized that the discussions are being held based on national interests and industry demands from the U.S.
The talks come at a time when both countries are experiencing economic pressure due to the ongoing trade war. Manufacturing activity in China has slowed, and exports to the United States are expected to decline by up to 77% this year.
Holding these meetings could be a crucial step toward reducing trade tensions and restoring stable economic relations between the two nations.
