China and the United States start their first major Trade War Two meeting on Saturday to pull back from what analysts describe as a lose-lose situation for their economies, without much clarity on what a win would look like for either side.

China's exports to the US have plunged. Apollo's top economist said recently that the US could see empty shelves and a tariff-fueled recession by summer.

Shipments of goods to the United States plunged by 21 percent in April, but spiked to Asia as President Trump imposed sky-high tariffs on China.