Trump officials to meet Chinese counterparts in the midst of a trading spot sacrifice

Top officials of the Trump administration will meet their Chinese counterparts in Switzerland this week, the first formal meeting about trade between the United States and China, because President Trump raised rates on Chinese import to three-threesome figures last month.

Scott Bessent, the Minister of Finance, and Jamieson Greer, the American trade representative, are planning to meet Chinese officials during a trip to Geneva, where they will discuss trade and economic affairs, according to individual announcements from the office of the trade representative and the Ministry of Treasury.

A spokesperson for the Chinese Ministry of Foreign Affairs said that he would visit Lifeng, the Deputy Prime Minister for Economic Policy, from 9 to 12 May and hold conversations with Mr Bessent.

The meeting could help to make an economically harmful uprising of trade that has attacked a month between the world’s greatest economies. At the beginning of April, Mr. Trump escalated the rates for Chinese exports to at least 145 percent, to punish Beijing because of revenge against his earlier taxes.

Although both parties seem to be interested in lowering those rates, neither of them wanted to take the first step. It remains unclear how quickly the United States and China can close any form of agreement, or what the content could be.

The Trump government has criticized China for its role in bringing fentanyl and ingredients to make the medicine to the United States, as well as a crowd of unfair commercial practices. Mr. Trump and his advisers have also censored China because they have not held up to the conditions of a trade agreement on which the president has negotiated in his first term. In exchange, China has called Mr Trump’s rates ‘illegal and unreasonable’.

Companies have complained that high rates on both sides of the Pacific have stopped trade and are in danger of threatening many American companies out of the company. In the first quarter of this year, the American share of imported goods from China fell at the lowest level In more than two decades, trade tires between countries were increasingly tense.

Speaking from the White House on Tuesday, during a visit by the Canadian Prime Minister, Mr. Trump said that the Chinese were enthusiastic about a meeting. “They want to meet each other and they don’t do business now,” he said.

When asked about the conversations in Switzerland, a spokesperson for the Chinese Ministry of Trade said that American officials “had constantly leaked information about adjusting tariff measures and actively transferred information to China through different channels, hoping to talk to China about rates and other issues.”

“China has carefully evaluated the American information,” said the spokesperson. “Based on the complete consideration of global expectations, the interests of China and the calls of American industry and consumers, China has decided to agree to the US”

“If the United States want to resolve the issue through negotiations,” the spokesperson added, “it must face the serious negative impact of one -sided tariff measures in itself and the world, the international economic and trade rules, fairness and justice, and the concern of both sides through balance and rational voices of both sides, concerning concernedness, the concern of the concern, the concern of the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern, the concern of both sides, the concern, the concern, the concern, the concern, the concern, the concern of both sides.”

Mr Bessent and Mr. Greer are also expected to meet the Swiss president, Karin Keller-Sutter, to discuss a potential trade agreement.