Switzerland to host the first major summit on US-China trade war

On May 8, representatives from the United States and China will arrive in Geneva to discuss easing the trade war between the two countries. The meeting in Switzerland is the first round of high-level talks between the two powers, and is hoped to bring the two sides back from the economic brink.

First round of US-China trade talks to be held in Geneva

In a statement, the United States Treasury Department confirmed that high-level talks will be taking place in Switzerland between the US and China. Treasury Secretary Scott Bessent will travel to Geneva on May 8, for what is expected to be a four-day round of talks regarding trade and tariffs with Chinese Vice Premier He Lifeng.

The meetings are set to address the trade war between the two countries, which was initiated by US President Donald Trump. In an attempt to economically isolate China and improve the US trade deficit, Trump began by imposing a 10 percent import tariff on all Chinese goods in February 2025, which was raised to 20 percent in March. In late February, China retaliated by imposing tariffs of between 10 and 15 percent on various US products like coal, oil and natural gas. 

Things truly began to spiral during the so-called “Liberation Day” on April 2, where the US added an additional tariff of 34 percent on Chinese goods, a number matched by China. On April 8, US tariffs rose to 104 percent, and then to 145 percent on April 11. In response, Chinese tariffs were also raised to 125 percent.

US trade war with China stuns global economy

The tariffs mean that, in practice, the US and China have embargoed each other’s goods. Along with causing a stock market crash and hurting confidence in the US economy and currency - a phenomenon that saw the value of the Swiss franc rise to record highs - the tariffs are expected to disrupt the global economy, slow the Chinese economy and lead to higher prices for American consumers.

Speaking to Fox News, Scott Bessant said that the meeting in Switzerland is a key but cautious first step. "I feel like this is about de-escalation, not the big trade deal. We need to de-escalate first before we can move forward." However, he assured that it was in both the US’ and China’s interest to find a compromise.

What will Switzerland get out of the meeting?

SRF’s China correspondent Samuel Emch noted that Switzerland can help solve the economic conflict by providing a platform and neutral ground for discussions. "This could therefore be a first, important step toward containing the trade conflict,” he noted, but added that a full-on resolution to the crisis will probably not be found at first.

As to what Switzerland gets out of the meeting, this weekend Bessent is expected to meet members of the government and Swiss President Karin Keller-Sutter. It’s hoped that this will give Keller-Sutter the chance to find an agreement to ensure the 31 percent “reciprocal” tariffs placed on the country by Trump on April 2, before they were suspended for 90 days on April 9, will never return.