High-Stakes Diplomacy: U.S. and China Attempt Trade War De-escalation

U.S. Treasury Secretary Scott Bessent and China's economic chief He Lifeng will hold pivotal talks in Switzerland this weekend, aiming for a breakthrough in the ongoing trade war. This meeting marks a crucial effort at de-escalating tensions between the two economic giants.

The planned dialogue, crucial for resolving tariff disputes and economic instability, has sparked reactions in global markets. Following the announcement, U.S. equity index futures rose, and China and Hong Kong markets mirrored this optimism.

Expectations for the talks include discussions on tariff reductions and specific trade policies. While the geopolitical landscape remains terse, the willingness for dialogue signals a potential easing of international trade tensions, which could have significant implications for global economic health.

(With inputs from agencies.)