“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump said.
Trump did not elaborate on the progress achieved, nor did U.S. Treasury Secretary Scott Bessent, who is leading the talks in Switzerland. The talks are continuing Sunday.
On Saturday, Bessent and U.S. Trade Representative Jamieson Greer met in Geneva with China’s Vice Premier He Lifeng, who is Beijing’s lead negotiator on economic and trade affairs with the U.S. The meeting came after both countries hiked tariffs on each other’s imports, triggering financial mayhem and huge disruptions to global supply chains.
But ahead of the gathering in Geneva, Trump signaled that a thaw was on the way. On Friday, he opened the door to easing U.S. tariffs on China — currently at a minimum of 145 percent — down to 80 percent.
However, trade experts warned that this level of tariffs would still be a major barrier for most companies trading between the two countries.
China’s official Xinhua News Agency said in a commentary on Saturday that the “reckless abuse of tariffs” by the Trump administration had destabilized the global economic order, but added that the negotiations represented “a positive and necessary step to resolve disagreements and avert further escalation.”
“China’s determination to safeguard its development interests is unshakable, and its stance on maintaining the global economic and trade order remains unwavering,” the Xinhua article said.
