Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet this weekend in Geneva with Chinese Vice Premier He Lifeng, marking the first high-level face-to-face trade talks since President Donald Trump imposed sweeping 145% tariffs on Chinese goods last month. The discussions are expected to focus on de-escalating tensions between the world's two largest economies, which have been locked in a tariff war that analysts warn could have long-term global consequences.
The meetings, scheduled for Saturday and Sunday, come as both sides attempt to frame the encounter as a routine convergence rather than the start of formal negotiations. "I was going to be in Switzerland to negotiate with the Swiss," Bessent said on Fox News. "Turns out the Chinese team is traveling through Europe, and they will be in Switzerland also. So we will meet on Saturday and Sunday."
China's Foreign Ministry confirmed He Lifeng's trip, citing an invitation from the Swiss government, while declining to directly link the visit to a U.S.-China negotiation. The neutral location of Geneva-home to the World Trade Organization-provides a symbolic backdrop to the meeting amid increasing strain on multilateral trade frameworks.
"This isn't sustainable," Bessent said of the current tariff levels. "Especially on the Chinese side. The equivalent of an embargo. We don't want to decouple. What we want is fair trade." On Tuesday, he added before a House appropriations subcommittee, "China, we have not engaged in negotiations with as of yet."
President Trump, who announced the new tariffs on Chinese imports last month, told reporters Tuesday, "They want to negotiate and they want to have a meeting and we'll be meeting with them at the right time." Trump added: "Everyone says, 'When, when, when are you going to sign deals?' We don't have to sign deals, they have to sign deals with us."
Greer echoed that sentiment in a statement: "At President Trump's direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America's economic and national security."
The weekend talks follow weeks of escalating rhetoric and tit-for-tat tariffs. Beijing responded to Trump's levies with duties of up to 125% on U.S. exports, affecting key sectors such as agriculture and automotive manufacturing. Both sides now appear to be weighing whether a dial-down is possible.
"My sense is that this will be about de-escalation, not about the big trade deal," Bessent said on Fox. "But we've got to de-escalate, before we can move forward."
China, for its part, has signaled it is open to talks but not under pressure. "Our doors are open if the U.S. wants to talk," said Chinese Foreign Ministry spokesperson Lin Jian. "If a negotiated solution is truly what the U.S. wants, it should stop threatening and exerting pressure."
While expectations remain low for a breakthrough this weekend, officials from both nations have confirmed the meetings will occur. Stock futures rebounded sharply Tuesday evening following the announcement, as markets reacted to the potential of cooling tensions between Washington and Beijing.
Greer and Bessent are also expected to meet with Swiss President Karin Keller-Sutter during their visit. The Treasury Secretary noted, "Economic security is national security, and President Donald J. Trump is leading the way both at home and abroad for a stronger, more prosperous America."
