WASHINGTON: President Donald Trump declared “great progress” following the first day of high-level US-China trade talks in Geneva, calling it a “total reset” in relations between the world’s two largest economies.
“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump posted on Truth Social Saturday night, praising the opening round of negotiations as “very good.”
The talks, held at a Swiss diplomatic residence, brought together US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng. According to sources close to the meeting, discussions are set to continue Sunday. While neither side disclosed specific outcomes, Trump hinted at a potential reduction in tariffs, floating an 80% rate on Chinese imports—down from the current 145%—if Beijing opens its market to American companies. China currently imposes retaliatory tariffs of 125% on US goods.
The Geneva meeting follows months of escalating trade tensions that have frozen nearly $600 billion in annual trade. Supply chains have been severely disrupted, with US imports from China expected to fall by up to 80% in the second half of 2025. Chinese state media described the talks as “an important step” but cautioned that resolving core issues would require “strategic patience.”
Meanwhile, US officials emphasised that no immediate breakthrough was expected but framed the talks as a path toward de-escalation.
Switzerland’s Economy Minister Guy Parmelin said the fact that the discussions were happening was itself a success. “If a road map can emerge, that will help lower tensions,” he noted.
Earlier, Top US and Chinese officials wrapped up the first day of talks in Switzerland on Saturday aimed at defusing a trade war that threatens to hammer the global economy and planned to resume negotiations on Sunday, a source close to the discussions said.
Chinese Vice Premier He Lifeng met for about eight hours with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Geneva in their first face-to-face meeting since the world’s two largest economies heaped tariffs well above 100% on each other’s goods. Neither side made any statements about the substance of the discussions nor signaled any progress towards reducing crushing tariffs as meetings at the residence of Switzerland’s ambassador to the U.N. concluded at about 8 p.m. local time. (1800 GMT)
Bessent, Greer and He were meeting in Geneva after weeks of growing tensions prompted by U.S. President Donald Trump’s tariff blitz starting in February and retaliation from Beijing that has brought nearly $600 billion in annual bilateral trade to a virtual standstill.
The trade dispute, combined with Trump’s decision last month to impose duties on dozens of other countries, has disrupted supply chains, unsettled financial markets and stoked fears of a sharp global downturn. The location of the talks in the Swiss diplomatic hub was never made public. However, witnesses saw both delegations returning after a lunch break to the gated U.N. ambassador’s villa, which has its own private park overlooking Lake Geneva in the leafy suburb of Cologny. –Agencies
