Top U.S. officials — Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer — will meet with their Chinese counterparts in Geneva this weekend for the first high-level talks since President Trump launched the trade confrontation.
Both countries have imposed steep, retaliatory tariffs that have disrupted commerce: U.S. tariffs have reached as high as 145% in some categories, while Chinese tariffs have pushed to roughly 125% in affected sectors. These measures have prompted American companies to cancel orders from Chinese suppliers, delay planned investment and expansion, and rethink global supply chains.
Bessent called the current situation “unsustainable,” likening it to “the equivalent of an embargo.” He stressed that the United States seeks fair and reciprocal trade practices rather than a wholesale decoupling from China, emphasizing negotiation and reform over permanent separation.