U.S. and Chinese officials will meet in Switzerland this weekend to discuss resolving the trade war affecting the global economy.
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00:00Now, with that in mind, this weekend's get-together becomes even more pivotal.
00:05US Treasury Secretary Scott Bessent and Chief Trade Negotiator Jameson Greer
00:10will meet China's economic czar, He Liefeng, in Switzerland this weekend
00:14for talks that could be the first step toward resolving a trade war disrupting the global economy.
00:20Now, news of the meeting was announced by Washington and later confirmed by Beijing,
00:25sent US equity index futures higher, bringing relief to markets royal
00:31by US President Donald Trump's barrage of tariffs.
00:35The meeting with China's Vice Premier comes after months of escalating tensions
00:40that have seen duties on trade between the world's two largest economies so well beyond 100%.
00:47Now, the two sides are expected to discuss the reductions of their broader tariffs,
00:51two sources familiar with the planning told Reuters.
00:55Washington and Beijing have been locked in a cat-and-mouse game-over-tariff
00:59with each side unwilling to be seen to back down in a trade war
01:03that has sent shockwaves through global markets and upended supply chains.