Scott Bessent: U.S. Aims for Cooperation, Not Decoupling, Ahead of Key Meeting With Chinese Officials

Treasury Secretary Scott Bessent And Ambassador Jamieson Greer from the Office of the U.S. Trade Representative will hold discussions with representatives from China during meetings this weekend in Switzerland to address economic issues. This marks an important initial move in trade negotiations between the two major powers since President Donald Trump declared extensive tariff measures on "Liberation Day."

Bessent told " The Ingraham Angle In an interview on Tuesday, he mentioned his plans to travel to Switzerland for negotiations with the Swiss side and discovered that the Chinese team would also be traversing Europe.

He didn't specifically state which side initiated communication with the other first, mentioning there were "numerous touchpoints over an extended period."

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Bessent mentioned that the world has been converging towards the U.S., with China being the one absent from this picture. Fox News host Laura Ingraham.

The White House has been attempting to negotiate trade deals with numerous countries after Trump announced a 90-day pause in April on most so-called reciprocal tariffs, excluding China, which faces a 145% tariff.

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"We share common interests. However, this situation is not viable, particularly from the Chinese perspective—where 145% or 125% essentially amounts to an embargo. Our aim is not to disconnect but to achieve equitable trade," Bessent stated.

No trade deals have officially been announced since the pause was implemented. The Treasury secretary said at a White House press briefing last week that the United States has had substantial talks with Japan and a deal with India could be imminent.

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Trump’s tariffs have created volatility in financial markets since his "Liberation Day" announcement on April 2. The president asked voters to remain patient As his economic strategy comes into focus, after the economy shrank by 0.3% in early 2025.

Bessent told Ingraham that he expects the upcoming scheduled meeting with Chinese officials will be more about de-escalation than a big trade deal.

"We need to reduce tensions before we can proceed," he said additionally.

Trump stated during an interview with NBC’s "Meet the Press" hosted by Kristen Welker that at some point he would need to reduce the tariffs on China since otherwise, you would be unable to conduct business with them.

He stated that they have an intense desire to conduct business... meanwhile, their economy is crumbling.

Bessent didn't address possible modifications in tariff rates, mentioning he wouldn't engage in negotiations publicly, yet he indicated that "all options are available."

"Ultimately, the president has mentioned that he would be content to assign numbers to every country if the talks do not proceed successfully. This is precisely what we are implementing for the remaining 17 significant trade allies," he clarified.

You have the option to negotiate sincerely, you can bring your best effort, otherwise President Trump is prepared to increase the figure again. your April 2 number If you prefer not to reduce your tariffs, then consider decreasing your non-tariff trade barriers, stopping currency manipulation, and eliminating subsidies for labor and industries.

Original article source: Scott Bessent states that the US does not aim to decouple from China before an upcoming meeting with his Chinese counterpart.