A critical meeting is set to take place in Switzerland as U.S. Treasury Secretary Scott Bessent is scheduled to speak with his Chinese counterpart at the request of the Trump administration, Chinese officials disclosed on Wednesday.
The Chinese delegation is entering the discussions with a firm stance against any increases in U.S. tariffs, insisting on an approach characterized by “equality, respect, and mutual benefit,” as articulated by Foreign Ministry spokesman Lin Jian on X.
Lin emphasized that efforts to pressure or coerce China would be ineffective, asserting, “We will resolutely safeguard our legitimate interests and uphold international fairness and justice.”
This statement indicates China’s intention to assert its position as the high-stakes negotiations aim to address the tariff conflict ignited under President Donald Trump.
The Trump administration maintains that it holds a favorable advantage over China, claiming that the Chinese economy is heavily reliant on American consumers for its exports, a dependency that could lead to economic turmoil if disrupted.
Currently, China faces an extensive tariff rate of 145% on its goods exported to the United States, marking it as one of America’s largest trading partners.
Despite the meeting being organized, Chinese officials have insisted they did not initiate the call for trade talks. They have been evaluating the Trump administration’s outreach rather than actively soliciting discussions.
As of now, the White House has not provided a response to Finance Newso’s inquiries regarding the recent comments from Beijing.
Bessent and U.S. Trade Representative Jamieson Greer announced late Tuesday that they would meet with their counterparts from China in Switzerland over the weekend.
“Negotiations are set to commence on Saturday,” Bessent confirmed during his testimony before the House Financial Services Committee on Wednesday morning.
The Chinese Foreign Ministry has confirmed that Vice Premier He Lifeng, responsible for overseeing U.S.-China economic and trade relations, will engage with Bessent in Geneva.
Notably, Peter Navarro, the most vocal advocate for tariffs and trade advisor on China, will not be present at the upcoming talks.
