US Treasury Secretary Scott Bessent confirmed that the United States intends to engage in productive talks with China, emphasizing the need for fair trade rather than a decoupling from economic relations. Trade discussions this week in Switzerland are expected to address the heightened tensions stemming from recent tariffs imposed by both nations. Both sides acknowledge that the current tariff levels are unsustainable and detrimental to global economic health. The possibility of a US recession looms, making these negotiations critical for economic stability.
US Treasury Secretary Scott Bessent emphasized, "We don't want to decouple. What we want is fair trade," highlighting the US's intention to engage constructively with China.
Bessent remarked on the unsustainable nature of current tariffs, stating, "The current levels of tariffs are unsustainable. We expect to focus on de-escalation before we can move forward."
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