Trade discussions between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng ended after a day of prolonged negotiations and will resume Sunday, a source said.

Prospects for a major breakthrough appear dim. But there is hope that the two countries will scale back the massive import taxes they have imposed on each other’s goods since President Trump launched a trade war.

Newsweek has contacted the White House and the Chinese Foreign Ministry for comment. President Donald Trump raised U.S. tariffs on China to a combined 145 percent, prompting the Chinese to retaliate with a 125 percent levy on American imports.