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| United States and Chinese to start discussion to eliminate trade war : photo/Getty image |
Chinese Vice Premier He Lifeng will participate in the talks taking place in Switzerland from May 9 to 12, as confirmed by China's Ministry of Foreign Affairs.
Representing the United States will be Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, according to their respective offices.
Since President Donald Trump resumed his term, he has enacted new tariffs on Chinese imports, reaching as high as 145%, prompting Beijing to retaliate with its own tariffs of 125% on certain American goods.
While global trade experts anticipate that these negotiations may extend over several months, this meeting marks the first significant 'engagement' between the two nations since Chinese Vice-President Han Zheng attended Trump's inauguration in January.
Bessent expressed a desire to rebalance the international economic landscape to better align with US interests, emphasizing that the focus should be on de-escalation rather than a comprehensive trade agreement.
A spokesperson from the Chinese commerce ministry highlighted the need for the US to acknowledge the detrimental effects of unilateral tariffs on both itself and the global economy.
Chinese state media indicated that Beijing's decision to engage in talks was influenced by global expectations, national interests, and appeals from American businesses, while also asserting that if the trade war continues, China is prepared to fight resolutely.
The ongoing trade war has caused significant disruptions in financial markets and has reverberated throughout global trade, with experts expressing "skepticism" about the initial outcomes of the discussions.