American and Chinese officials have started talks in Switzerland to de-escalate a trade dispute between the world's two biggest economies that has global implications. There is hope that the countries can scale back the tariffs they have slapped on each other's goods,

High-level talks between the United States and China have begun in Geneva, Switzerland, Chinese state media reported on Saturday, in a possible thaw in the trade war sparked by President Donald Trump’s massive tariffs.

The president said reducing tariffs to 80 percent from the current 145 percent “sounds right,” as U.S. and Chinese negotiators prepare to meet in Switzerland.