US-China trade talks: ‘Great progress made’: Donald Trump on US-China tariff talks being held in Switzerland, hails ‘whole reset’

US President Donald Trump claimed on Saturday that “great progress” was made through the first day of high-stakes US-China trade talks in Geneva, signalling what he referred to as a “total reset” in relations between the world’s two largest economies.
In a submit on Truth Social, the US president wrote, “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. Great progress made!!!”

The discussions, aimed toward easing hovering trade tensions, happened on the Villa Saladin overlooking Lake Geneva and lasted over 10 hours.

The US delegation was led by treasury secretary Scott Bessent and trade consultant Jamieson Greer, whereas Chinese Vice Premier He Lifeng represented Beijing. The two sides are anticipated to renew talks on Sunday.
As per AP, the negotiations are being held underneath tight secrecy, with no public statements from both aspect. Several black autos had been seen leaving the residence of the Swiss ambassador to the UN after the talks concluded.

These are the primary official negotiations since Trump raised US tariffs on Chinese items to a mixed 145% final month, prompting Beijing to reply with 125% levies on American imports. The sharp tariff hikes have successfully crippled trade between the 2 nations and stirred fears of a world financial downturn.

According to The New York Times, expectations for a breakthrough stay modest, although the willingness to renew dialogue after weeks of silence is seen as a constructive improvement. “The best scenario is for the two sides to agree to de-escalate on the … tariffs at the same time,” mentioned Sun Yun of the Stimson Center, noting that even a small discount might sign progress.

Trump has repeatedly defended his tariff technique, calling them a device to guard US pursuits and cut back America’s trade deficit with China, which reached $263 billion final 12 months. However, he hinted Friday that he would possibly decrease duties, saying in one other Truth Social submit that an “80% Tariff seems right! Up to Scott.”

Beyond trade imbalance, Trump has additionally used tariffs to stress China over different points. The 20% portion of the levies is linked to a requirement for stricter motion by Beijing on fentanyl trafficking. The broader trade conflict additionally stems from longstanding US considerations about Chinese industrial insurance policies and alleged mental property theft.

Talks with China weren’t the one focus in Switzerland. Bessent and Greer additionally met with Swiss President Karin Keller-Sutter. While Trump had threatened a 31% tariff on Swiss items, he quickly decreased them to 10%, with the opportunity of reinstating the upper fee. The Swiss authorities, as quoted by AP, has warned that escalating trade tensions would harm key sectors like watches and chocolate however has dominated out retaliatory measures for now.