Trade talks between the United States and China have begun in Geneva, Switzerland, Chinese state media reported on Saturday, a nascent sign of a thaw in the trade war sparked by President Donald Trump’s massive tariffs.

Key Takeaways The U.S. and U.K. announced a trade deal framework on Thursday, boosting Wall Street's hopes for more deals to come. U.S. and Chinese officials are scheduled to meet in Switzerland this weekend to hold their first talks since the beginning of a tit-for-tat trade war that White House officials have compared to an embargo.

The U.S. is set to meet with China for the first time in the trade war begun just over a month ago, and while it could lead to real negotiations down the road, many observers see it as a preliminary meeting.