Treasury Secretary Scott Bessent has revealed that the U.S. will begin trade talks with China on Saturday. On Thursday, May 8, Bessent will travel to Switzerland. As part of his agenda, he will meet with China’s lead economic representative to begin tariff negotiations.
U.S. to Begin Trade Talks with China this Weekend
Bessent added that the meeting with China on Saturday will be an early-stage negotiation, saying that the two countries will not have an advanced discussion just yet.
“I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the United States,” said the Treasury Secretary.
Surprisingly, the iShares China Large-Cap ETF (FXI) is still trading lower in light of the news.
