The Swiss government said its talks with Bessent and US Trade Representative Jamieson Greer were “convivial and constructive” and were aimed to lay out the guidelines for a deal on the issue of customs duties to be discussed again in coming weeks.

The U.S. treasury secretary and America’s top trade negotiator began talks with high-ranking Chinese officials in Switzerland Saturday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy.