‘Need to de-escalate’: US, China to hold trade talks amid tariff war

Since President Trump returned to the White House in January, he has imposed a massive 145% tariff as import taxes on Chinese goods, while the Chinese government hit back with the levies on some goods from the US with as high as 125% tariff.

China’s Commerce Ministry has informed that the Vice Premier will travel to Switzerland from May 9 to May 12 in order to hold talks with Treasury Secretary Bessent.

According to a Chinese commerce minister spokesperson, “If the United States wants to resolve the issue through negotiations, it must face up to the serious negative impact of unilateral tariff measures on itself and the world,” BBC reported.

During an interview with Fox News, Secretary Bessent said “My sense is that this will be about de-escalation, not about the big trade deal, but we’ve got to de-escalate before we can move forward.”

Since the announcement of the US-China meeting, the shares in the American stock exchange rallied upwards in the after-hours trading with Dow futures up 270 points, or 0.7%, broader S&P 500 futures rose 0.8% and Nasdaq futures were 1% higher.

The trade war between US and China had sent shockwaves across the financial markets in the world and the stock markets had seen turmoil due to retaliatory measures.

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