US Secretary of Treasury Scott Bessent declared that trade discussions with Chinese leadership were “very productive.” Bessent delivered this message from Switzerland — where he joined influential conversations with top Chinese leaders to help foster this collaboration. His comments are an encouraging sign of a possible thaw in relations as both countries continue to grapple with complicated trade matters.
At this meeting, Bessent had the rare opportunity to meet China’s Vice Premier. He met with a pair of vice ministers who are integral to these negotiations. All of these public meetings happened while backroom negotiations were still trying to find a way to tamp down trade-related tensions. These growing tensions have been ruining both countries’ economies.
Trump is Fully Informed on Trade Negotiation Progress
On Saturday night, Bessent and U.S. Trade Representative Jamieson Greer presented their case to President Donald Trump himself. Plus, they kept him updated on the results of their talks. So far, Bessent says, Trump “is fully informed” on all the progress achieved during the negotiations. He noted that the talks resulted in a lot of productivity and good feeling that bodes well for continued negotiation.
Bessent intends to host an all-out, full dress briefing on Monday morning. She’ll discuss what these talks mean for the future of U.S.-China relations. Our next briefing will provide insight into what the next steps will be on these contentious trade negotiations and further detail on what’s been agreed to so far.
Earlier this month, Bessent testified before a House Financial Services Committee hearing in Washington, D.C., discussing various economic matters, including trade policies. The timing of this hearing on May 7, 2025, underscores the salience and urgency of trade issues before Congress today. Photo of Bessent testifying, taken by Nathan Howard, published by Reuters.
That momentum from these final talks is a result of a combined and clearly focused push from both countries to move through long-standing trade disputes. The meetings in Switzerland show that everyone involved is willing to work together and find the best solution for all parties.
Author’s Opinion
While the talks between the U.S. and China, as reported by Scott Bessent, suggest a potential thaw in relations, the real challenge lies in translating these positive discussions into actionable agreements. Trade tensions between the two countries have been long-standing, and while diplomatic engagement is a step in the right direction, any meaningful resolution will require overcoming significant economic and political hurdles. These negotiations are just the beginning of what will likely be a complex and ongoing process.
Featured image credit: American Banker
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