WASHINGTON (NewsNation) — Treasury Secretary Scott Bessent is set to meet his Chinese counterpart in Switzerland on Saturday, marking the first in-person talks between the United States and China amid escalating trade tensions.
The meeting will take place days after the Trump administration revealed the framework of its first trade agreement with the United Kingdom.
The White House appears to be building on that momentum. President Donald Trump hinted the steep 145% tariffs on Chinese imports could be reduced if the talks go well.
When asked Thursday during the U.K. deal announcement whether he would consider lowering tariffs, Trump responded, “It could be.”
“I mean, we’re going to see. Right now. You can’t get any higher. It’s at 145, so we know it’s coming down,” he continued. “I think we’re going to have a very good relationship.”
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The tariffs are already being felt across the United States. Ports are seeing fewer Chinese imports, and some companies have responded by raising prices. Ford Motor Company, for example, has announced price hikes on three car models it manufactures in Mexico.
Amid these economic pressures, Trump has indicated he hopes new trade deals will ease the burden on American consumers and businesses.
According to Commerce Secretary Howard Lutnick, the White House plans to roll out dozens of additional trade agreements in the next month.
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US, UK unveil trade deal framework
Trump called the agreement with the UK “a full and comprehensive one” that will “cement the relationship” between the two nations for years to come.
He said the U.K. was chosen first due to the county’s shared history and alliance, and hinted that more deals are “in serious stages of negotiation.”
While British officials emphasize that the deal isn’t finished and significant negotiations remain, the White House is touting it as a great deal for the U.S.
As part of the framework, Trump agreed to reduce tariffs on British auto steel, and aluminum, though a baseline 10% tariff on other British goods will remain.
Trump also highlighted increased access for U.S. agricultural products, with the UK expected to import more American beef and ethanol.
He also suggested that other countries seeking similar deals may face even higher import taxes. According to administration officials, the agreement with the UK is intended to serve as a template for future negotiations.
