Easing Tensions: U.S.-China Trade Negotiations on Horizon

U.S. Treasury Secretary Scott Bessent emphasized the need for de-escalation between the United States and China ahead of their trade negotiations in Switzerland. The discussions will focus on easing tensions rather than a major trade deal. The U.S. seeks to repatriate strategic industries like semiconductors and steel.

U.S. Treasury Secretary Scott Bessent highlighted the necessity for tension reduction between the United States and China as they prepare for trade talks in Switzerland this weekend.

He stated on Fox News that the primary focus of these discussions will be de-escalation rather than securing a sweeping trade agreement.

The U.S. aims to maintain trade ties in sectors like textiles while repatriating strategic industries, including semiconductors and steel production, to strengthen domestic capabilities.

(With inputs from agencies.)