The upcoming meeting in Switzerland between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart was requested by the Trump administration, Chinese officials said Wednesday.
China will be entering the talks “firmly” opposed to U.S. tariff hikes, and willing to participate only in a dialogue “based on equality, respect and mutual benefit,” Foreign Ministry spokesman Lin Jian wrote on X.
“To pressure or coerce China in whatever way simply does not work,” wrote Lin. “We will resolutely safeguard our legitimate interests and uphold international fairness and justice.”
The post shows China attempting to set the tone ahead of the high-stakes negotiations that could help resolve the tariff war launched by President Donald Trump.
But Trump appeared to take issue with China’s characterization.
“They said we initiated? Well, I think they ought to go back and study their files, OK?” Trump said at the White House later Wednesday.
He did not answer a question about whether he was still confident that a deal with China could be reached.
Asked what he expected to come out of the meeting in Europe, Trump said, “We’ll see … we were losing a trillion dollars a year, now we’re not losing anything, you know? It’s the way I look at it.”
The Trump administration has insisted it has the upper hand against China, arguing that Beijing needs American customers for its exports, or it risks economic collapse.
One of America’s largest trading partners, China currently faces a blanket tariff rate of 145% on goods bound for the United States.
But China has repeatedly denied that it proactively reached out to the Trump administration to propose trade talks. Instead, Chinese officials recently said the country was assessing the Trump administration’s overtures.
Lin Jian, a spokesman for the Chinese Foreign Ministry, answers questions from journalists. China has reacted angrily to the tariffs imposed by the USA against the People’s Republic.
Johannes Neudecker | Picture Alliance | Getty Images
The White House did not immediately respond to CNBC’s request for comment on the message coming out of Beijing.
Bessent and U.S. Trade Representative Jamieson Greer both announced through their offices Tuesday evening that that they will meet with their Chinese counterparts in Switzerland this weekend.
“The negotiations will begin on Saturday,” Bessent said in testimony before the House Financial Services Committee on Wednesday morning.
The Chinese Foreign Ministry confirmed that Vice Premier He Lifeng, the top official for China-U.S. economic and trade matters, will meet with Bessent in Geneva.
Trump’s most hawkish trade advisor on China and his most ardent tariff advocate, Peter Navarro, will not attend the talks.