High-Stakes Trade Talks: U.S. and China Reignite Dialogue

This weekend, U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet China's top economic official, He Lifeng, in Switzerland. The meeting, announced on Tuesday, sent U.S. equity index futures soaring, signaling a possible thaw in the ongoing trade war.

The talks mark a pivotal moment as tensions have seen tariffs between the two biggest economies escalate above 100%. Discussions are expected to cover tariff reductions and U.S. export controls, with hopes pinned on de-escalating the prolonged trade conflict.

Both nations face challenges in backing down without losing face, evidenced by a tough back-and-forth over tariffs. However, the weekend talks might lay groundwork for easing trade barriers, albeit with caution from China over U.S. intentions in the negotiations.

(With inputs from agencies.)