Top negotiators from the United States and China are set to meet in Geneva on Saturday, as the world’s two largest economies seek to navigate a path away from a bruising trade war that has disrupted global supply chains, slowed economic growth, and sent shockwaves through industries from electronics to agriculture.

The talks will mark the first face-to-face meeting between senior officials from the two countries since President Donald Trump imposed historically high 145% tariffs on most Chinese imports in early April. They come on the heels of Trump hailing a “full and comprehensive” trade agreement reached with the United Kingdom on Thursday that left many key sticking points unresolved.But hopes for a breakthrough this weekend with the Chinese remain muted. Trump—who has long decried the trade deficits the U.S. has with China and other countries—tried this week to frame the dramatic slowdown in shipments from China as a positive sign. “We were losing a trillion dollars a year, now we’re not losing anything, you know? That’s the way I look at it,” he said Thursday.

Some analysts are skeptical that the meeting will result in any tangible outcomes. “The U.S. has not been particularly interested in what anybody else wants,” says Mary Lovely, an expert on U.S.-China Relations and a senior fellow at the Peterson Institute for International Economics. “The U.S. is still dependent on China for many individual goods, so China still has a lot of power in this relationship.”

Here’s what to know about Saturday’s trade negotiations between the U.S. and China.U.S. officials will be led by Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, who have signaled that they view these initial talks as a chance to begin easing tensions. “My sense is that this will be about de-escalation, not about the big trade deal,” Bessent told Fox News on Tuesday.

Chinese negotiators, led by Vice Premier He Lifeng, are arriving with similar caution, wary of making concessions without signs of U.S. compromise. “To pressure or coerce China in whatever way simply does not work,” Foreign Ministry spokesman Lin Jian wrote on X.

Still, the decision to bring senior negotiators from both sides to the table is being seen by some analysts as a positive step forward after months of economic brinkmanship. While expectations for a breakthrough remain low, the fact that both countries have agreed to talk signals a recognition of the steep costs of prolonged conflict. “If we see anything coming out about how the process might be continued, that would be a win,” Lovely says.

Trump struck a defiant tone ahead of the talks, telling reporters Thursday that his Administration’s tariff strategy had left China “with absolutely no business” and expressed confidence that the talks would be “very substantive.