It all sounds very preliminary. U.S. Treasury Secretary Scott Bessent told Fox News that Saturday's meeting would be about working out what to talk about.
"My sense is this will be about de-escalation," he said. But the Chinese side was guarded, citing a proverb in its statement.
"There is an old Chinese saying: Listen to what is said, and watch what is done...if (the U.S.) says one thing but then does another, or attempts to use talks as a cover to continue coercion and blackmail, China will never agree."
Still, it lifted U.S. futures and they held most of their gains through the Asia day, while Hong Kong stocks jumped.
China also flagged interest rate cuts and expanded a channel for directing insurers' money into the stock market - cheered by investors, although a bit half-heartedly, because the fiscal spending they so desire is still absent.
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