Top Trump officials, Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, are set to meet with Chinese representatives in Geneva to discuss trade and economic issues. This meeting signifies a potential easing of tensions in the trade war initiated by President Trump’s tariffs. Bessent and Greer will engage with their Chinese counterparts to address trade matters and work towards rebalancing international economic relations in favor of the United States. The announcement of these discussions led to a surge in US stock futures, with Dow futures rising by 0.7%, S&P 500 futures by 0.8%, and Nasdaq futures by 1%.

Recent weeks have seen a rise in stock prices following Trump’s exemption of certain Chinese goods from high tariffs, hinting at the possibility of a trade agreement. Despite a lack of active talks between the two nations, there are indications of a potential thaw in relations, as both US and Chinese officials have expressed willingness to negotiate. Bessent highlighted the need to lower unsustainable tariffs on China, aligning with China’s openness to trade discussions. This development suggests a positive trajectory towards resolving trade disputes and fostering more cooperative economic relationships between the US and China.