Talks between China and France on Thursday failed to end a dispute between the two countries over Cognac tariffs, French Finance Minister Eric Lombard said, although he added the door was open for further discussions.

Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

As the U.S. and China negotiate a trade deal, Trump has lowered a levy on “de minimis” low-value packages, such as online shopping from Shein or Temu.

U.S. stocks climbed Monday after Treasury Secretary Bessent touted substantial progress on talks with the Chinese setting up a busy week of trade talks as President Trump heads to the Middle East. In economic and earnings news,

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.

Xi Jinping’s decision to stand his ground against Donald Trump could hardly have gone any better for the Chinese leader. After two days of high-stakes talks in Switzerland, trade negotiators from the world’s biggest economies announced Monday a massive de-escalation in tariffs.

The United States will cut the low value "de minimis" tariff on China shipments, a White House executive order said on Monday, further de-escalating a potentially damaging trade war between the world's two largest economies.