In a move that signals both urgency and caution, China has confirmed that Vice Premier He Lifeng will meet with U.S. Treasury Secretary Scott Bessent in Switzerland from May 9–12 to discuss escalating tensions in global trade. The announcement—delivered via the Chinese Embassy in Washington and detailed in a strongly worded statement from China’s Ministry of Foreign Affairs—frames the talks not as a thaw, but as a high-stakes confrontation wrapped in diplomatic formalities.
At the heart of China’s grievance is the Biden administration’s continuation—and in some areas, expansion—of tariff regimes initially imposed under President Donald Trump. The Chinese side characterized these as “illegal and unreasonable,” accusing the U.S. of “severely impacting China-U.S. economic and trade relations, disrupting the international economic and trade order, and posing severe challenges to global economic recovery and growth.”
Based on full consideration of global expectations, China’s interests, and the appeals of the U.S. business community and consumers, #China has decided to agree to engage with the #US side. As China’s lead on China-U.S. economic and trade affairs, Vice Premier He Lifeng will hold… pic.twitter.com/2twZyYVYCk
— Chinese Embassy in US (@ChineseEmbinUS) May 7, 2025
While the announcement of talks is notable, Beijing’s tone is hardly conciliatory. The statement underscores China’s readiness to engage but does so with layers of conditions: “Any dialogue and negotiation must be carried out on the premise of mutual respect, equal consultation, and mutual benefit.” It repeatedly accuses the United States of using negotiations as a cover for coercion, insisting that “China will never agree” to talks that compromise its principles.
In one of the most pointed lines, China quotes an old proverb: “Listen to what someone says and watch what they do.” It’s a clear jab at what Beijing sees as Washington’s duplicity—signaling one intention publicly while pursuing a different strategy behind closed doors.
Though cloaked in hardline language, China’s willingness to sit down at the table reveals another truth: pressure is mounting internally. With its economy under stress from sluggish growth, cratering foreign investment, and a global realignment of supply chains, the CCP is increasingly aware that economic stability depends on managing tensions with major trade partners.
By agreeing to meet Bessent—a relatively low-profile figure elevated by Trump to lead the Treasury—China appears to be testing the new administration’s intentions. But it’s also positioning itself as the steady hand amid what it views as erratic American policy-making, even appealing to U.S. consumers and business leaders by invoking the economic harm caused by tariffs.
The U.S. Attorney General has defended current tariffs as leverage, while Chinese officials are pushing for their rollback as a precondition to any broader economic cooperation. Beijing’s statement mentions everything from “ghost guns” of economic policy (like tariff threats) to a veiled swipe at other nations negotiating with the U.S., warning that “appeasement cannot bring peace, and compromise cannot earn respect.”
For Bessent and the Trump administration, the goal is clear: extract meaningful concessions without sacrificing the America First posture on trade. For China, the talks are a chance to deflect internal economic concerns outward, resist what it calls “hegemonic bullying,” and prevent further decoupling.
