Trump Officials to Meet With China, Signaling New Openness to Trade Talks

Two top Trump officials are scheduled to meet later this week with Chinese representatives on trade and economic matters, their agencies announced Tuesday evening, a nascent sign of a thaw in the trade war sparked by President Donald Trump’s massive tariffs.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to journey to Geneva, Switzerland. There, they will have separate meetings with President Karin Keller-Sutter as well as individual discussions with Chinese delegates, according to official announcements.

Bessent said Tuesday on Fox News not to expect a major trade deal out of the meetings, but he acknowledged it was an important step in negotiations.

“My sense is that this will be about de-escalation, not about the big trade deal … but we’ve got to de-escalate before we can move forward,” he said.

He said that Trump was using “strategic uncertainty” to “get the best trade deals possible,” and, “That’s what’s happening with the trading partners who are coming to us.”

“The world has been coming to the US (for deals), and China has been the missing piece,” he said. “We don’t want to decouple; what we want is fair trade.”

Greer said in a statement: “At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security. I look forward to having productive meetings with some of my counterparts as well as visiting with my team in Geneva who all work diligently to advance U.S. interests on a range of multilateral issues.”

US stock futures shot higher in after-hours trading on the announcement.

Dow futures were up 270 points, or 0.7%. The broader S&P 500 futures rose 0.8% and Nasdaq futures were 1% higher.

Shares have been climbing over the past few weeks following President Trump’s announcement of exemptions from substantial 145% duties for certain Chinese products such as electronics. This led investors to believe that it might indicate an agreement was possible.

Bessent appeared before Congress on Tuesday stating that despite inactive discussions between the nations, indications of a potential thawing in relations were evident. Both Trump and Bessent indicated that the stringent tariffs imposed on China continue to be unmanageably high. Additionally, China expressed openness to engaging in certain trade negotiations last week.

In a statement , the Chinese Commerce Ministry said China agreed to talks following a “thorough assessment” after senior American officials repeatedly hinted at adjusting tariff measures and reached out to China through multiple channels. According to China’s Foreign Ministry, Chinese Vice Premier He Lifeng will be meeting Bessent during his visit to Switzerland from May 9 to 12.

“Taking into full consideration global expectations, China’s own interests, and the appeals of American businesses and consumers, China has decided to agree to engage with the US,” an unnamed spokesperson for the Chinese Commerce Ministry said in the statement.

The spokesperson reiterated that any dialogue or negotiation must be conducted on the basis of mutual respect, equality and mutual benefit.

“If the US says one thing but does another—or seeks to use talks as a cover for continued coercion and blackmail—China will not agree, and will certainly not compromise its principles or sacrifice international fairness and justice for the sake of reaching any deal.”

This story has been updated with additional details.

Nectar Gan and Ramishah Maruf to this report.

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