Trump firm on tariffs ahead of US-China talks in Switzerland: What’s on the agenda?

US Treasury Secretary Bessent and Chief Trade Negotiator Jamieson Greer are set to meet China’s economic tsar He Lifeng in Switzerland this week — just weeks after tensions escalated between the two nations following sweeping tariffs on imports.

The meeting aims to ease tensions and explore potential solutions, as rising tariffs continue to disrupt global markets and strain economic relationships, Reuters reported.

Last month, the Trump administration introduced 145 per cent tariffs on Chinese goods, prompting an immediate response from Beijing, which imposed 125 per cent tariffs on US imports.

Although China has since exempted select American products — including pharmaceuticals, microchips, and ethane — from its tariff list, tensions remain high. Citing ongoing economic uncertainty, US companies have begun reducing orders and delaying investment plans.

‘Not losing anything’

At a White House event, Trump was asked by a reporter whether he was willing to reduce tariffs to bring China back to the negotiating table. He responded: “No.”

“We were losing with China, on trade, a trillion dollars a year — more, actually,” Trump said. “You know what we’re losing now? Nothing. That’s not bad.”

He also dismissed China’s claim that the United States had initiated this week’s round of trade talks. “They said we initiated? Well, I think they ought to go back and study their files,” he added.

According to CNN, US stock markets dipped slightly following President Trump’s comments and have continued to decline since the official announcement of the tariff decision.

Trade between the world’s two largest economies has largely stalled since the onset of the tariff dispute in March. However, this week’s meeting between senior US and Chinese trade officials marks the first formal round of negotiations since then, CNN reported.