President Donald Trump has floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting as he looks to deescalate the trade war.
Top U.S. officials are set to meet with a high-level Chinese delegation in Switzerland in the first major talks between the two nations since Trump sparked a trade war with stiff tariffs on imports.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with their counterparts in Geneva in the most-senior known conversations between the two countries in months.
It comes amid growing U.S. market worry over the impact of the tariffs on the prices and supply of consumer goods.