Overview

• A high-level US delegation, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, will meet Chinese officials in Switzerland this weekend.
• President Trump reiterated on Wednesday that he will not lower the 145% tariffs on Chinese goods to incentivize negotiations.
• China has maintained that meaningful talks cannot proceed unless the US reduces its tariffs, which Beijing views as coercive.
• Both sides dispute who initiated the meeting, with Trump denying claims from Chinese officials that the US requested the talks.
• The escalating trade war has disrupted global supply chains, shaken financial markets, and raised fears of a potential global economic downturn.