U.S.-China set for first talks

[Anchor]

The United States and China, which have been engaged in a trade war, are set to hold their first talks.

The economic leaders of both countries are scheduled to meet in Switzerland later this week, but the battle of words has already begun.

Kim Kyung-soo reports from Washington.

[Report]

With tariffs in the triple digits, U.S.-China trade is effectively at a standstill, but President Trump stated that there is nothing to lose.

[Donald Trump/President of the United States: "And by not trading, we're losing nothing. So, we are saving $1 trillion. It's a lot. But they want to negotiate and they want to have a meeting..."]

Immediately following these remarks, the first official high-level talks between the U.S. and China after the 'trade war' were announced.

U.S. Treasury Secretary Scott Bessent and China's economic powerhouse Vice Premier He Lifeng are set to sit down in Switzerland later this week.

While the economic leaders of both countries are stepping forward, it seems that it will initially be a 'preliminary discussion'.

"The goal is to ease tensions rather than reach a large-scale trade agreement," and "China's intention to protect its interests remains unchanged" have been stated even before the talks begin.

There has even been a battle of words over "who requested the meeting first."

[Lin Jian/Spokesperson for the Chinese Ministry of Foreign Affairs: "This meeting is being held at the request of the U.S. side, and China’s position of firmly opposing excessive tariffs imposed by the U.S. has not changed."]

However, the U.S. recorded a negative growth rate for the first quarter for the first time in three years, and China’s manufacturing sector has also been hit, leading to speculation that some tariff reductions or easing of export controls may be on the table.

Meanwhile, President Trump has announced that he will make a 'major announcement' before his trip to the Middle East next week.

U.S. media predicts that it will likely be an announcement regarding the renaming of the Persian Gulf rather than the tariff issue.

This is Kim Kyung-soo from KBS News in Washington.