US officials met with their Chinese counterparts for the first time on Saturday to go head-to-head over President Trump’s tariff war.

Switzerland has moved to the front of the queue for a trade deal with the United States, U.S. Treasury Secretary Scott Bessent said on Monday, after the Alpine country hosted surprisingly successful U.

The easing of trade tensions between the United States and China is a step in the right direction and helps reduce European fears of being flooded with Chinese goods redirected from the U.S. market, European Economic Commissioner Valdis Dombrovskis said.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will both meet with their Chinese trade and economic counterparts in Switzerland.

U.S. and Chinese trade negotiators agreed over the weekend to lower mutually imposed triple-digit tariffs in a significant de-escalation of the ongoing trade war between Washington, D.C., and

China hailed a trade agreement with the U.S. that will see both sides sharply reduce their tariffs for 90 days, calling it an "important step" that could lead to "deepening cooperation" between the world's two largest economies.

Markets are in a cheery mood after trade talks between the US and China in Switzerland over the weekend yielded what both sides described as encouraging progress. Treasury Secretary Scott Bessent hailed "substantial progress" following "productive" discussions. Details are expected Monday, he said in a statement.

GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.