High-level trade talks between the United States and China are set to take place this week in Switzerland as the two global powers attempt to ease escalating tensions from their ongoing trade war.
Chinese Vice Premier He Lifeng will represent Beijing at the May 9–12 meeting, while US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will represent Washington. This marks the first major engagement between the two nations since Chinese Vice President Han Zheng attended President Donald Trump’s inauguration in January.
Since Trump’s return to office, the US has imposed tariffs of up to 145% on Chinese imports, prompting Beijing to retaliate with its own levies of up to 125% on American goods. Global trade analysts caution that these talks will likely stretch over several months.
US officials emphasized their goal is to stabilize the situation before pursuing a broader agreement. “This will be about de-escalation, not the big trade deal,” Bessent told Fox News. Meanwhile, China reiterated its willingness to talk but vowed to resist any continued aggression.
Chinese state media framed Beijing’s participation as a response to global expectations and domestic business interests, though they warned China would “fight to the end” if necessary. Experts remain skeptical of a breakthrough, with some predicting a repeat of the drawn-out 2018 negotiations.
Markets responded positively, with gains reported in China, Hong Kong, and US stock futures. Investors also await the Federal Reserve’s announcement on interest rates, which could further influence economic sentiment.
