U.S. Treasury Secretary Scott Bessent Wednesday described a meeting with Chinese officials on trade starting on Saturday as "negotiations," and said that White House trade adviser Peter Navarro will not be joining him and U.S. Trade Representative Jamieson Greer at the discussions in Switzerland

Asked during a House Financial Services Committee hearing whether discussions with China were considered advanced, Bessent replied: "I said, on Saturday, we will begin, which I believe is the opposite of advanced."