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In a rare high-level engagement, US Treasury Secretary Scott Bessant and US Trade Representative Jameson Greer are set to meet with Chinese Vice Premier Kifong in Switzerland. Scheduled for Thursday, this meeting aims to deescalate an intensifying trade standoff between the two nations. This dialogue marks the first significant conversation since President Donald Trump escalated tariffs on Chinese imports last month, with tariffs on American goods reciprocated in kind.
The escalating trade war has caused global markets to fluctuate, diminishing the dollar's value and raising concerns regarding the economic pathways for both nations. Economists have already adjusted China’s growth outlook down to below the government's approximate 5% target, emphasizing growing economic instability.