Prospects for a major breakthrough appear dim. But there is hope that the two countries will scale back the massive import taxes they have imposed on each other's goods since President Trump launched a trade war.

The way President Donald Trump sees it, beating China in a trade war should be easy. After all, the Chinese sell Americans three times as much stuff as Americans sell them.

President Donald Trump on Friday set negotiating terms for his administration’s first discussions with China, which are set to take place in Geneva this weekend.