US, China Hold High-Level Trade Talks in Switzerland

Senior U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, are set to meet Chinese Vice Premier He Lifeng in Switzerland this weekend for the highest-level trade talks since President Trump's tariffs began the trade war. Tariffs have reached 145% on U.S. duties for Chinese goods and 125% on Chinese tariffs for American products, disrupting global supply chains and raising costs for businesses and consumers. Both sides have confirmed the talks, which are aimed at de-escalating tensions and possibly reducing tariffs, though a full trade agreement is not expected. The U.S. is open to phased tariff reductions, while China demands dialogue based on equality and mutual benefit, refusing to compromise its core principles. Market reactions to the talks have been cautiously optimistic amid ongoing concerns about inflation and economic uncertainty. The negotiations may also address broader issues such as non-tariff barriers and intellectual property protections.