The trade dispute also is considered to be a factor in a broader global economic slowdown. U.S. and Chinese officials are set to resume high-level trade talks on Oct. 10. At UPS, Abney said the shipping giant is seeing "headwinds" internationally, citing both the trade conflict and worries over Brexit as the U.K. continues to try to negotiate a smooth departure from the European Union trading bloc. Abney's cautiously optimistic tone, following UPS' better-than-expected second-quarter earnings back in July, contrasts with pessimism at rival FedEx, which last month reported quarterly earnings and revenue that missed estimates. FedEx also lowered full-year guidance for fiscal 2020. On the post-earnings call with analysts, FedEx Chairman and CEO Fred Smith said, "I think there is a lot of whistling past the graveyard about the U.S. consumer and the United States economy versus what's going on globally." Shares of UPS and FedEx were under pressure Tuesday in a down market.