U.S. and Chinese officials will meet in Geneva in first sign of thaw in trade war

U.S. and Chinese officials are scheduled to meet in Switzerland, indicating a possible easing of the trade war that has created significant tariffs on both sides. Treasury Secretary Scott Bessent expressed concerns over the sustainability of current tariffs, suggesting they equate to an embargo. Investors hope the meetings might lead to a resolution as the trade war poses risks of a global recession. Both countries appear eager for negotiations, as underlying tensions continue to escalate.

The U.S. and China have been locked in a tit-for-tat trade war, which could see a shift in policy with upcoming talks in Switzerland.

Treasury Secretary Scott Bessent suggested current tariffs are unsustainable, calling them "the equivalent of an embargo," and emphasized the need for fair trade.

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