The Trump administration is heading into weekend talks with China contemplating a potentially dramatic tariff reduction in a de-escalatory move that would see both sides slash duties from prohibitive levels set last month to temper the economic pain both are already starting to feel.

With time running out on his 90-day tariff pause, Donald Trump and his team have yet to announce a new trade agreement.

A formidable set of cards that includes granting access to its vast market and an ability to withstand economic pain will allow Beijing to play hardball in upcoming trade talks with the United States in Geneva,