The U.S. and China will hold breakthrough trade talks in Geneva on Saturday, marking the first high-level meeting since tensions escalated into a full-blown tariff war.

Axar.az, citing Reuters, reports that U.S. Treasury Secretary Scott Bessent and trade negotiator Jamieson Greer will meet Chinese economic chief He Lifeng to explore de-escalation options, including possible tariff rollbacks and exemptions.

Bessent likened the current tariff levels—up to 145%—to an embargo and emphasized a need for fair trade, not decoupling.

China's openness to talks follows growing economic pressure, including job loss warnings and slowing growth.

While both sides signal readiness for dialogue, it remains uncertain how substantive the discussions will be. Meanwhile, President Trump continues to impose and review new tariffs globally, with trade talks ongoing with multiple countries amid a record U.S. trade deficit.