The United States and China will meet in Switzerland this weekend.

WashingtonA US delegation will travel to Geneva, Switzerland, to meet with Chinese representatives this weekend in an attempt to de-escalate the trade war initiated by US President Donald Trump. This is the first formal meeting between the two countries since the president intensified pressure on China with tariffs of up to 145% on Beijing's imports, to which the Asian giant responded with retaliatory duties of 125%.

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will travel to Switzerland, where they plan to meet with He Lifeng, China's top trade negotiator. He's presence has been confirmed by China. Bessent first announced it Tuesday afternoon. "We'll see each other on Saturday and Sunday. We agreed to talk. On Saturday and Sunday, we'll decide what we'll talk about. I have a feeling it's going to be about de-escalation, not the big trade deal, but we have to de-escalate before we can move forward," the Treasury Secretary said in an interview on Fox News.

Both delegations will try to ease tensions between the two powers after relations deteriorated further following Trump's announcement of new tariffs on foreign pharmaceuticals and films. Even so, Washington has begun to tone down its tone with Beijing.

Two weeks ago, Bessent acknowledged that a trade war with China of its current dimensions was not "sustainable" and said he expected a "de-escalation." "China will be a difficult battle in terms of negotiations," Bessent said at the time, adding: "Neither side believes that thestatus quo be sustainable." At the same time, that same week, Beijing expressed its openness to starting negotiations with Washington, but warned that it would not continue the talks if the threats from the White House continued.

The Wall Street Journal exclusively reported that US President Donald Trump was considering cutting current tariffs on China in half. The easing of his tone with China came after Trump met with top executives from major retailers in the country, including Target, Walmart, and Home Depot. Representatives from the companies warned the president that taxes on Chinese imports would lead to higher prices for their products.

Trump has consistently attacked China for its role in the trafficking of fentanyl and other ingredients used to make drugs into the United States, as well as for trade practices he considers unfair. The first tariffs he signed after taking office against China, the 25% tariffs, were already linked to the fentanyl crisis.

Tariffs on China threaten to have a major impact on American consumers, and recent polls show that Trump's popularity has fallen in the wake of his trade war. According to a poll published by ABC News, nearly two-thirds of Americans disapprove of Trump's tariff policies.

Shortly after the announcement of the meeting between the two countries' delegations, China's central bank lowered interest rates on Wednesday to increase and inject more money into the economy. This is the largest economic policy the Chinese authorities have taken to try to limit the impact of the fallout from the trade war initiated by Trump.