Chinese state media report the U.S. Treasury Secretary and America’s top trade negotiator have begun talks with high-ranking Chinese officials in Switzerland to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy.

The U.S. Treasury Secretary and America’s top trade negotiator will meet with high-ranking Chinese officials in Switzerland this weekend to de-escalate a dispute that threatens to cut off trade betwee

Earlier on Friday, US President Donald Trump said an 80% tariff on Chinese goods "seems right," suggesting for the first time a specific alternative to the 145% levies he has imposed on Chinese imports ahead of closely watched weekend talks between the two countries.