The trade talks, the first in-person meeting between Chinese and American officials since the tit-for-tat tariff escalation kicked off in earnest in March, are unlikely to result in a trade deal, Treasury Secretary Scott Bessent said Tuesday. But tariffs have reached such a high level that trade between the two countries has dropped off dramatically. Any thaw in the trade war could be a welcome sign for businesses and consumers in both countries and around the globe.
“The main objective of this meeting is to establish the conditions for a deal to be reached, including by defining what is feasible to be agreed upon and what isn’t,” said Alfredo Montufar-Helu, head of the Conference Board’s China Center. “There might be some quick wins, like a temporal pause of tariffs, which would bring much needed relief to businesses from both countries.”
