WASHINGTON, May 11 (Reuters) – U.S. Commerce Secretary Howard Lutnick on Sunday said bilateral talks with China now underway in Geneva are intended to “de-escalate” tensions between the two superpowers, as he predicted multiple trade deals over the next few months without naming specific countries.
Treasury Secretary Scott Bessent “has made it clear one of his objectives is to de-escalate. You know, 145% and 125% are really – those are kind of tariffs where you are not trading with each other. So he’s there to see if we can reset the conversation,” Lutnick said in an interview on “Fox News Sunday with Shannon Bream.”
Lutnick was responding to a question about Trump administration expectations for the talks. He was referring to China’s 125% retaliatory tariffs and 145% U.S. tariffs imposed as part of U.S. President Donald Trump’s drive to use trade policy to ignite more manufacturing in the United States.
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