The Asia-Pacific Economic Cooperation's trade gathering comes to a close on Friday with divisions over U.S. tariffs and reforms to the World Trade Organization putting the adoption of a joint statement in doubt,

U.S. and Chinese officials are set to meet in Switzerland to discuss potentially de-escalating the trade spat that has resulted in high tariffs for each country.

Trump’s escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.

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The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

Treasury Secretary Scott Bessent expressed optimism about continuing trade negotiations with Chinese officials after meeting in Geneva, with plans to meet again in the next few weeks to hash out a

China and the United States start their first major Trade War Two meeting on Saturday to pull back from what analysts describe as a lose-lose situation for their economies, without much clarity on what a win would look like for either side.

Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.