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Trump officials Bessent and Greer to meet with Chinese counterparts on trade, economic issues 👉 Treasury Secretary Scott Bessent and U.S. trade representative Jamieson Greer will meet with their Chinese counterparts in Switzerland this weekend to discuss economic and trade matters, their offices announced Tuesday. 👉 "We have shared interests," Bessent said later on Fox News' "Ingraham Angle." The current tariff war "isn't sustainable," said Bessent, "especially on the Chinese side. And, you know, 145% [tariffs], 125%, is the equivalent of an embargo. We don't want to decouple, what we want is fair trade." 👉 Bessent and Greer will meet with their Chinese counterparts on both Saturday and Sunday, the Treasury secretary said. 👉 The meetings appear to be a major step toward Washington and Beijing beginning negotiations to potentially resolve the ongoing trade war ignited by President Donald Trump. 👉 "My sense is that this will be about de-escalation, not about the big trade deal," Bessent told host Laura Ingraham. "But we've got to de-escalate, before we can move forward." 👉 Trump ratcheted up tariffs last month on Chinese imports to 145% even as he scaled back so-called reciprocal tariffs on almost all other U.S. trading partners. China, which is one of America's largest trading partners, retaliated with steep tariffs on U.S. goods. 👉 Stock futures, which opened in the red Tuesday evening, turned sharply higher immediately following news of the meetings. 👉 Both Bessent and Greer plan to meet with Swiss President Karin Keller-Sutter during their visit, their offices said. 👉 The Chinese Foreign Ministry said that Vice Premier He Lifeng, Beijing’s top official for China-U.S. economic and trade matters, will meet with Bessent in Switzerland, NBC News reported. 👉 “Economic security is national security, and President Donald J. Trump is leading the way both at home and abroad for a stronger, more prosperous America,” Bessent said in a statement announcing the meetings. 👉 “I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the United States,” Bessent said. 👉 Greer’s office said he “will also meet with his counterpart from the People’s Republic of China to discuss trade matters” while in Geneva, his office said. 👉 “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,” Greer said. 👉 “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,” Greer said. Read more ❓ www.cnbc.com/2025/05/06/trump-trade-china-switzerland-tariffs.html ✨ eToro’s AsianDragons Smart Portfolio seeks exposure with leading diversified companies from the Developed East Asian countries, including Hong Kong, Singapore, South Korea, Taiwan, Japan, and Macao. @AsianDragons is part of eToro's Smart Portfolio series and is available with a $500 minimum investment. Some of the companies invested in this portfolio are $ASX (ASE Technology Holding -ADR) , $FUTU (Futu Holdings Ltd-ADR) , $823.HK (Link REIT) , $SE (Sea Ltd-ADR) , $SONY (Sony Group Corp.-ADR) and $UMC (United Microelectronics Corporation-ADR) . Your capital is at risk. Past performance is not an indication of future results.