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US Treasury Secretary Scott Bessent will lead a delegation of US officials in meeting with Chinese counterparts in Switzerland to discuss the ongoing trade war between the two countries.
Some shit you should know before you read: If you’re unaware, the US currently has a 145% tariff in place on Chinese imports. In retaliation, China has imposed 125% tariffs on a wide array of American goods, disrupting bilateral trade flows. This intensifying trade war has already produced visible economic consequences: ports along the US West Coast, particularly Los Angeles and Long Beach, have reported a sharp drop in commercial cargo volumes. According to data from the Port of Los Angeles, container volume in April fell roughly 18% year-over-year, with industry leaders warning that a prolonged trade war could deepen supply chain instability. Trump has signaled that any potential easing of tariffs on China will hinge on more than trade concessions, alluding to broader concerns including national security, intellectual property protections, and other shit.
What’s going on now: In a notable development, US Treasury Secretary Scott Bessent confirmed that he will meet this weekend with Chinese Vice Premier He Lifeng in Switzerland, marking the first high-level talks between the two nations since the trade war kicked off. The meetings, set to take place over both Saturday and Sunday, will occur in Geneva and include additional bilateral discussions with Swiss President Karin Keller-Sutter. The primary focus of these meetings, according to Bessent, will be to “de-escalate before we can move forward,” rather than to negotiate a full trade agreement at this stage.
US Trade Representative Jamieson Greer will also meet with his Chinese counterpart to address trade matters as part of the coordinated diplomatic engagement.
During a House Appropriations subcommittee hearing earlier in the week, Bessent clarified the administration’s goal, stating, “We don’t want to decouple — what we want is fair trade,” stressing that while the US seeks structural changes in its trade relationship with China, it is not aiming for an economic separation. He reiterated this stance in a Fox News interview, adding, “We have shared interests. This isn’t sustainable, especially on the Chinese side — and, you know, 145%, 125% is the equivalent of an embargo.”
Despite this, China remains skeptical and has criticized the United States over the tariffs. China’s foreign ministry claims the US is trying to “suppress China’s development,” a claim the US denies.
