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.

Bessent and U.S. Trade Representative Jamieson Greer were due to meet He in Geneva after weeks of growing tensions that have seen duties on goods imports between the world's two largest economies soar well beyond 100%.

China’s exports to the United States tumbled in April while its trade with other economies surged, suggesting that President Donald Trump's tariffs offensive is hastening a shakeup in global supply chains.

China’s strong export growth in April, despite sky-high U.S. tariffs, will give Beijing a boost as its officials head to trade talks this weekend.

Amid steep levies, shipments from China to the U.S. plunged in April, with Chinese exports rerouted to other countries.