May 10 (UPI) — The United States and China are carrying out high-level diplomatic talks in Geneva, Chinese state-run media reported from the Swiss capital on Saturday.

The meeting’s agenda is focussing on “economic and trade affairs,” the Xinhua News Agency said in a brief story.

Vice Premier He Lifeng is representing China at the talks, while U.S. Treasury Secretary Scott Bessent is the top American diplomat, China’s state-run broadcaster CCTV reported.

American officials earlier this week confirmed the meeting would take place.

Bessent and U.S. Trade Representative Jamieson Greer met Thursday with Swiss President Karin Keller-Sutter. Greer is also meeting with his Chinese counterpart in Geneva Saturday.

U.S. President Donald Trump previously announced tariffs of 145% on China, leading to retaliatory 125% levies from Beijing. Trump at the time also announced similar tariffs on over a dozen other countries.

Saturday’s meeting marks the first official trade talks between the two countries since Trump first announced the tariffs.

The president on Thursday suggested an amended 80% tariff ahead of the talks.

“80% Tariff on China seems right! Up to Scott B,” Trump wrote on Truth social, referencing Bessent.

He at the time did not specify if the 80% figure represented a goal or opening negotiating stance.

Trump also urged China to “open up its market,” in a separate social media post.

On Wednesday Trump told reporters at a news conference he would not consider relenting on the 145% tariffs on China.