The first meeting to address the US-China trade deadlock occurred at the IMF headquarters, featuring US Treasury Secretary Scott Bessent and China’s Finance Minister Lan Fo’an. The talks led to a temporary ceasefire reducing tariffs by 115 percentage points for 90 days, revealing economic pressures on both sides. Despite conflicting narratives of victory from Trump and Chinese sources, experts noted that the rapid agreement indicates both countries were economically constrained, suggesting future negotiations will remain challenging.