As Trump administration officials prepare to meet with Chinese officials in Geneva this weekend, it’s tempting to believe the momentum from the United Kingdom trade deal announcement on Thursday will carry over.

The meeting is the strongest sign yet that the world's two biggest economies are ready to de-escalate their trade war.

Tensions are high between the US and China ahead of a planned trade talk, and the dueling superpowers can't even agree on who initiated the meeting. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced this week that they'll will be meeting with their Chinese counterparts in Switzerland this weekend to discuss US-China trade relations as Trump's heavy tariffs remain in effect and the trade war rages on.

Bank of England Governor Andrew Bailey said the trade deal concluded between the United States and Britain on Thursday was a good thing but still left tariffs on most British exports to the U.S. higher than they were before last month.

The Bank of England is cutting its main interest rate by a quarter of a percentage point to 4.25% amid concerns over the potential shock to global growth emanating from the tariff policies of the Trum