Trump’s ambassador to China sworn in ahead of high-stakes talks in Switzerland

Trump’s ambassador to China sworn in ahead of high-stakes talks in Switzerland


U.S. President Donald Trump shakes hands with former U.S. Senator David Perdue during Perdue’s swearing-in ceremony to be the new U.S. ambassador to China, at the White House in Washington, D.C., U.S., May 7, 2025.

Leah Millis | Reuters

President Donald Trump’s pick for U.S. ambassador to China was sworn in on Wednesday, days before White House officials are set to meet with their Chinese counterparts for the first time since Trump announced his 145% tariffs.

“What timing … what timing, only you could’ve picked this timing,” Trump quipped from the White House at Republican former Sen. David Perdue’s swearing in ceremony.

“I’m entrusting David to help manage one of America’s most complex and consequential foreign relationships, and I know he’ll do a fantastic job,” Trump said of the former Georgia lawmaker.

“Say hello to [Chinese President Xi Jinping] when you’re over there, please,” Trump added.

Perdue assumes his diplomatic post days before high-stakes talks get underway in Switzerland between American and Chinese officials.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Geneva Saturday and Sunday.

Both Wall Street and Main Street are eager to see the talks tamp down the sky-high trade tensions between Washington and Beijing.

Perdue said that he is “glad to be [Trump’s] man in China,” during his Oval Office ceremony.

Read more CNBC politics coverage

Trump reiterated on Wednesday that he would not consider rescinding the tariffs on China to kick-start negotiations, raising questions about whether the two nations will reach any deals this weekend.

The two nations have been engaged in a tit-for-tat trade war since April 2 that has injected widespread uncertainty into the U.S. economy.



Source

Another UK interest rate cut this year looks increasingly unlikely
World

Another UK interest rate cut this year looks increasingly unlikely

A Union flag flutters from a pole atop the Bank of England, in the City of London on August 7, 2025. Niklas Halle’n | Afp | Getty Images Traders see a growing likelihood the Bank of England will keep interest rates on hold for the rest of the year, after inflation came in at a […]

Read More
Hertz to sell used vehicles online through Amazon Autos partnership
World

Hertz to sell used vehicles online through Amazon Autos partnership

Hertz sells hundreds of thousands of vehicles per year, in addition to running its signature car rental business. Courtesy of Hertz Hertz on Wednesday announced it will start selling pre-owned vehicles on Amazon Autos, a move meant to bolster the car rental company’s retail operations as it looks to bring in more profits. Shares of […]

Read More
Shein’s China pivot is a last-ditch bid to rescue its IPO, analysts say
World

Shein’s China pivot is a last-ditch bid to rescue its IPO, analysts say

Key Points Analysts suggest Shein’s reported shift of its headquarters back to China could mark a final effort by the retailer to keep its embattled IPO on track. “After years of trying to position itself as a global brand rather than a Chinese fashion company, it’s back to square one,” Perris Lee told CNBC. The […]

Read More