Trade negotiators from the U.S. and China are starting talks this weekend in Switzerland. These are the first high-level trade talks between the two countries since President Trump returned to the White House.

Beijing retaliated immediately and a tense stand-off ensued as the two countries heaped levies on each other. Those now stand at 125%, although some Chinese imports to the US face duties as high as 245%. There have been weeks of stern, and sometimes fiery, rhetoric where each side sought to paint the other as the more desperate party.