United States Treasury Secretary Scott Bessent and chief trade mediator Jamieson Greer will fulfill Chinas economic tsar He Lifeng, in Switzerland this weekend for talks that could be the first step towards resolving a trade war disrupting the international economy, Reuters reported.News of the planned Geneva meeting, initially announced by Washington late Tuesday, sent out United States equity index futures higher.
Stock markets in China and Hong Kong followed suit during Asian trading on Wednesday.The talks come after weeks of intensifying stress that have seen tasks on items imports between the worlds two biggest economies soar well beyond 100%, totaling up to what Bessent on Tuesday described as the equivalent of a trade embargo.The impasse, alongside United States President Donald Trumps decision last month to slap sweeping duties on dozens of other nations, has overthrown supply chains, roiled financial markets and stoked fears of a sharp decline in global growth.The working out teams convening in Switzerland, known for its neutrality, are expected to go over decreases to the more comprehensive tariffs, 2 sources familiar with the preparation said.
The talks must likewise cover tasks on particular products, export controls, and Trumps decision to end de minimis exemptions on low-value imports, one of the sources added.
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