Top economic officials from the United States and China will meet on Sunday in Geneva for their second day of high-stakes negotiations, discussions that are aimed at easing tensions stemming from President Trump’s trade war.
The talks have major implications for the global economy, which has been rocked by the tariffs that the United States and China have imposed on each other in recent months. Mr. Trump has imposed a minimum tariff of 145 percent on all Chinese imports, while China has hit American products with a 125 percent import tax.
Such punitive levies are already disrupting the world’s supply chains. American companies are scrambling to source products from countries other than China, while Chinese factories are looking for ways around the U.S. tariffs and exporting more to Southeast Asia. At the same time, many U.S. businesses are weighing how much they can increase prices to help offset the tariff costs.
Economists have warned that the trade dispute will slow global growth and fuel inflation, potentially tipping the United States into a recession. Those economic fears have pressured Mr. Trump into seeking a deal with China.
After roughly seven hours of talks on Saturday, the United States said it would not release any formal statement about the proceedings.
Mr. Trump hailed the initial conversations as a success.
“A very good meeting today with China, in Switzerland,” Mr. Trump wrote on Truth Social. “Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner.”