The talks mark the first official public engagement between the world's two largest economies to resolve a trade war escalated by Trump shortly after his return to office in January.
Bessent told Fox News that the sides would hold meetings on Saturday and Sunday intended to lay the groundwork for future negotiations.
“We’ve got to de-escalate before we can move forward,“ he added.
“Vice Premier He, as the Chinese lead person for China-U.S. economic and trade affairs, will have a meeting with the U.S. lead person Treasury Secretary Scott Bessent,“ the Chinese foreign ministry said.
Since Trump returned to the White House in January, his administration has levied new tariffs totaling 145 percent on goods from China, with some sector-specific measures stacked on top.
The tit-for-tat tariffs have left the two nations with cripplingly high levies that have shocked financial markets and reportedly caused a sharp slowdown in bilateral trade.
“This isn’t sustainable, as I have said before, especially on the Chinese side. 145 percent, 125 percent is the equivalent of an embargo. We don't want to decouple. What we want is fair trade,“ Bessent said.
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