Treasury Secretary Scott Bessent is traveling to Switzerland today for three or four days of meetings. He will consult with He Lifeng, a member of the Political Bureau of the Communist Party of China Central Committee, who is also the Vice Premier of the State Council, according to Xinhua. Global Times, under the title “China Will Not Sacrifice Principle To Reach Deal with U.S.: MOFCOM,” reports that the Chinese Ministry of Commerce spokesman said: “If the U.S. says one thing but does another, or even attempts to continue to coerce and blackmail under the guise of tariff talks, China will never agree, nor will it seek to reach any agreement by sacrificing its principle and position as well as international fairness and justice.”
Global Times notes that President Trump said: “China initiated upcoming senior-level trade talks between the two countries and said he was not willing to cut U.S. tariffs on Chinese goods to get Beijing to the negotiating table, Reuters reported.” But, Global Times adds, “China decided to agree to hold discussions, and the talks are being held at the request of the U.S. side.”