China has cut interest rates and bank reserve requirements as part of a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump’s trade war

A s China’s export machine sputters under the weight of 145% tariffs, jobs are at risk. Some 16m workers are involved in the production of goods bound for America, says Goldman Sachs, a bank. Nomura, another bank, projects a possible 5.7m job losses in the near term and 15.8m in the long run, as the shock ripples through the economy.

Top economic officials from the United States and China will meet on Sunday in Geneva for their second day of high-stakes negotiations, discussions that are aimed at easing tensions stemming from President Trump’s trade war.