U.S.-China trade talks set for Switzerland amid Tariff tensions
Top U.S. and Chinese officials are scheduled to meet in Switzerland this weekend to discuss escalating trade tensions.
(CNN)- Top U.S. and Chinese officials are scheduled to meet in Switzerland this weekend to discuss escalating trade tensions, including the steep 145% tariffs recently imposed on Chinese imports. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will lead the American delegation. Bessent emphasized that the focus of the talks will be on easing tensions rather than securing a comprehensive trade agreement.
“My sense is that this will be about de-escalation, not about the big trade deal,” Bessent said. “We don’t want to decouple. What we want is fair trade.”
The Chinese Commerce Ministry confirmed the upcoming talks, saying it is taking “into full consideration global expectations, China’s own interests, and the appeals of American businesses and consumers.”
Still, the level of progress heading into the meeting remains unclear, with mixed signals coming from U.S. officials. President Trump recently said communication with China has been frequent since the tariffs took effect, while White House Trade Adviser Peter Navarro called the upcoming negotiations the “highest-level trade talks” since the tariffs were enacted. The meeting comes at a time of heightened concern from investors and U.S. business leaders.
“Markets are basically saying, ‘show us the deals,’” said Dan Ives, Managing Director at Wedbush Securities.
Supply chain disruptions are already being felt across the U.S., particularly at ports and in retail inventories.
“There are 900,000 workers in Southern California connected to the supply chain,” said Sal DiCostanzo of the International Longshore and Warehouse Union. “There are nine million across the United States.”
Some experts warn that decreased cargo volume could lead to product shortages and rising consumer prices.
“The cargo doesn’t lie,” Ives added. “You’re seeing the price increases come through.”
