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.
The U.S. and China are set for trade talks in Switzerland in the coming days. Treasury Secretary Scott Bessent will meet with Chinese economic officials in Switzerland, the Treasury Department said late Tuesday. Bessent will “meet with the lead representative on economic matters from the People’s Republic of China,” the department said in a statement that said he would travel to Switzerland on Thursday, where he would also meet with Swiss Confederation President Karin Ketter-Sutter.
Protests erupted in China last month as factory workers in Suining, Hunan, and Inner Mongolia demanded unpaid wages and benefits after factory closures triggered by Trump’s steep tariffs. The economy in the United States has also been impacted, with shipments from China falling and growing concerns about price increases.
