Markets are now shifting their focus to the critical conversations this weekend between U.S. Treasury Secretary Scott Bessent, chief trade negotiator Jamieson Greer, and their Chinese counterparts in Switzerland.
Most notably, China was excluded from the Trump-era tariff pause and now faces U.S. import duties of at least 145%. Beijing has responded with its own reciprocal taxes of 125%, raising concerns about the escalation of trade conflicts between the two largest economies in the world.
