The United States and China have to de-escalate before they can move forward with trade negotiations, US Treasury Secretary Scott Bessent said on Tuesday, ahead of a meeting with Chinese officials in Switzerland on Saturday and Sunday.
"My sense is that this will be about de-escalation, not about the big trade deal, but we've got to de-escalate before we can move forward," Bessent told Fox News Channel's The Ingraham Angle.
Bessent said the Trump administration did not want to decouple from trade with China in textiles and other such goods, but was determined to return production of strategic industries such as semiconductors, medicines and steel to the United States.