Officials from the two sides will meet in Geneva, Switzerland, from May 9 to 12.

U.S. and Chinese officials will meet in Switzerland this weekend for talks aimed at easing their escalating trade dispute, according to official statements.

The talks mark the first formal engagement since U.S. President Donald Trump unveiled broad tariffs on April 2, triggering a series of retaliatory measures from Beijing and a meltdown in global markets.

Following weeks of sharp rhetoric and a recent shift toward more conciliatory language, the meeting is seen as the clearest indication yet that both sides may be open to a compromise to roll back tariffs and restore trade stability.

S&P 500 futures rose about 0.9%. Stock markets in Japan and Australia also edged higher.

According to statements from both Washington and Beijing, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will hold meetings with China's top economic official He Lifeng in Geneva from May 9 to May 12.

The two sides are expected to discuss eliminating duties on specific products, U.S. policies on de minimis, and the U.S. export control list, according to a Reuters report, which quoted two unnamed sources familiar with the planning.

Since Trump's tariffs announcement, the U.S. has increased its levies on Chinese goods to 145%, and China has put a 125% rate on American imports, making trade between the two sides effectively unviable.

Trump has paused certain tariffs until July and has also exempted some goods, such as smartphones and semiconductors, from the additional duties.

In recent weeks, Trump's team engaged with several nations to strike trade deals, with efforts reportedly in the late stages with some Southeast Asian countries.

However, negotiations with China may not be simple.  

A statement from China’s Ministry of Commerce read: "If the U.S. wishes to resolve issues through negotiation, it must face up to the severe negative impacts of its unilateral tariff measures on itself and the world, acknowledge international economic and trade rules, fairness and justice, and the rational voices of all sectors, demonstrate sincerity in negotiations, correct its wrongdoings, and work with China to resolve mutual concerns through equal consultation."

The meetings will be the first since U.S. Senator Steve Daines met Premier Li Qiang in Beijing in March.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<