Before high-level U.S. and Chinese officials hold talks in Switzerland this weekend to discuss high tariffs, Washington and Beijing have been in a rhetorical duel over which side reached out first.

U.S. President Donald Trump said on Friday an 80% tariff on Chinese goods "seems right," suggesting for the first time a specific alternative to the 145% levies he has imposed on Chinese imports ahead of closely watched weekend talks between the two countries.

President Donald Trump on Friday floated cutting tariffs on China to 80% ahead of a weekend meeting as he looks to de-escalate the trade war

Russian President Vladimir Putin and Chinese President Xi Jinping held bilateral meetings in Moscow, emphasizing an alliance they claim will create a multipolar world order. Xi’s four-day trip to Moscow started on Wednesday and coincides with Russia’s 80th-anniversary commemorations of the end of World War II.

The two leaders, meeting in Moscow, hailed their alliance a day ahead of events to mark the 80th anniversary of the Soviet victory over Nazi Germany in World War II.