U.S. Treasury Secretary Scott Bessent referred to an imminent meeting with Chinese officials as “negotiations.” These talks are set to start on Saturday and will focus on trade issues in Switzerland.
Bessent confirmed at a House Financial Services Committee hearing that these discussions are just beginning, counter to being described as advanced. Notably, he mentioned that Peter Navarro, the White House trade adviser, will not join him and U.S. Trade Representative Jamieson Greer in these discussions.
In a move that underscores his stance on trade policies, President Donald Trump confirmed he has no intention to reduce the steep 145% tariffs on Chinese imports to entice Beijing back to the negotiating table.
During an interaction at the White House, Trump unambiguously stated “no” when asked if he would consider scaling back these tariffs to facilitate talks. This reaffirmation of his tariff strategy comes just days before Bessent’s scheduled meeting with his Chinese counterparts in Switzerland, where key trade and economic issues are set to be addressed.
