U.S. and Chinese officials began negotiations in Geneva to ease the trade war — Reuters

Vice Premier of the State Council of China He Lifeng began negotiations with U.S. Treasury Secretary Scott Bessent on Saturday morning in Geneva, marking the first step towards ending the trade war that undermines the global economy, reported China's state news agency and two sources close to the negotiations.

The location of the talks was kept secret, although a witness saw more than a dozen police cars parked outside a private residence in the suburbs of Geneva.

Amid growing distrust, both sides are eager not to appear weak, and economic analysts do not expect a breakthrough.

The host of the meeting, Swiss Economy Minister Guy Parmelin, met with both sides in Geneva on Friday and stated that the very fact of the negotiations is already a success. "If a roadmap can be developed and they decide to continue discussions, it will reduce tensions," he told reporters on Friday, adding that the negotiations could continue on Sunday or even Monday.