Their office announced Tuesday that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Switzerland this weekend to discuss economic and trade affairs.

"We have an interest in sharing," Bessent later said on Fox News' "Ingraham Angle." Best said the current tariff war "particularly on China."

The finance minister said Bessent and Greer will meet with their Chinese counterparts on Saturday and Sunday.

The meeting appears to be a major step towards the start of negotiations between Washington and Beijing to resolve the ongoing trade war inspired by President Donald Trump.

"My feeling is that it will be about downgrades, not big trade deals," Bessent told host Laura Ingraham. "But we have to cancel the upgrade before we move on."

Trump raised tariffs on Chinese imports to 145% last month, even as he cuts the so-called reciprocal tariffs from nearly all other U.S. trading partners. China is one of the largest trading partners of the United States and has retaliated against high tariffs on U.S. goods.

Stock futures opened on Tuesday night on the red Tuesday night and immediately became higher and higher after the meeting news.

Their office said Bessent and Greer planned to meet with Swiss President Karin Keller-Sutter during their visit.

China's foreign ministry said Beijing's top Chinese economic and trade official will meet in Switzerland.

"Economic security is national security, and President Donald J. Trump leads a stronger and more prosperous America at home and abroad," Bessent said in a statement announcing the meeting.

"I look forward to productive negotiations as we work to improve the international economic system to better serve the interests of the United States," Bessent said.

Greer's office said his office said he "will also meet with his peers in the People's Republic of China to discuss trade matters."

“In the direction of President Trump, I am negotiating with the country to rebalance our trade relations to achieve reciprocity, open up new markets and protect the U.S. economic and national security,” Greer said.

"I look forward to having productive meetings with some of my peers and visiting with my team in Geneva, who are all working hard to increase our interest in a range of multilateral issues," Greer said.

Trump said earlier on Tuesday that China wants to have a meeting and that the United States will do so at the "right time."

"They want to negotiate and want to have a meeting and we will meet them at the right time," Trump said at the White House meeting with Canadian Prime Minister Mark Carney.

Trump is also frustrated by people: “Ask you how many deals you want to sign this week?” even though his administration has said other countries have demanded bilateral trade talks with the United States.

"Everyone said, 'When, when, when, when do you sign the deal?'" Trump grabbed the White House.

"We don't have to sign a deal, they have to sign a deal with us. They want our market. We don't want the market on their market."

Bessent also said earlier on Tuesday that the U.S. is in talks with 17 trading partners, and China is not one of them.

"China, we have not negotiated with so far," Bessent said before the House Appropriations Subcommittee.