Donald Trump expressed a desire for a “complete reset” in US-China trade relations following the first day of discussions between senior American officials and Chinese representatives in Geneva. This meeting aimed to ease the ongoing trade conflict that arose from Trump’s tariffs.
The President described the initial arguments as “very good,” characterizing the negotiations as a “complete reset, conducted in a friendly yet constructive manner.” He shared this sentiment on his Truth Social Platform early Sunday, noting, “Great Progress!!!” although he didn’t provide further details on the advancements made.
US and Chinese officials wrapped up their first day of talks in Switzerland, intending to alleviate tensions that threaten the global economy. Additional discussions were anticipated to continue into Sunday, according to sources familiar with the matter.
His Lifeeng, China’s vice president, spent around eight hours in talks with US Treasury Secretary Scott Bescent and US trade representative Jamieson Greer.
This year, Trump’s tariffs on China have reached a cumulative total of 145%, with some duties on Chinese products climbing to 245%. In retaliation, China imposed tariffs of 125% on US goods, establishing what seems to be an almost trade embargo between the nations.
Both delegations released statements reflecting progress in lowering the burdensome tariffs during their meeting at the Swiss UN ambassador’s residence, around 8 PM local time (1800 GMT).
Bescent, Greer, and others gathered in Geneva after weeks of escalating tensions and reciprocal measures from Beijing triggered by Trump’s tariff initiative that began back in February. The conflict, along with Trump’s recent impositions on other countries, has raised concerns about disrupted supply chains, unstable financial markets, and a potential global recession.
The specific location of the discussions was not disclosed, but witnesses reported seeing both delegations return to the Villa of the Gate UN Ambassador at Kolognee after a lunch break.
Prior to the talks, US officials, including Bescent and Greer, appeared to be in good spirits as they left their hotel for the meeting. Bessent did not engage with reporters, while a Mercedes van transporting the Chinese delegation was seen departing from their accommodations.
Washington is looking to reduce its significant trade deficit of $2950 billion with Beijing, aiming to persuade China to modify what the US perceives as an overbearing economic model which heavily centers on development, and to boost global consumption. In contrast, Beijing is resistant to what it views as outside interference, seeking to lower tariffs while making clear its own purchasing intentions.
China’s state-run Xinhua news agency commented on Saturday that the US’s “reckless abuse of tariffs” has unsettled the global economic landscape, although the negotiations are seen as “positive and necessary steps” to address differences and prevent further escalation.
Economic analysts appear skeptical about any significant breakthroughs. Recently, Trump suggested that an 80% tariff on Chinese goods “seems correct,” indicating, for the first time, a more specific alternative to the existing 145% tax on Chinese imports.
He implied that the dialogue was instigated by China, while Beijing maintains that the US’s demands for negotiation and its stance on tariffs remain unchanged.
US Secretary of Commerce Howard Lutnick mentioned on Fox News that Trump’s spokesperson, Caroline Leavitt, emphasized that the US would not lower tariffs without corresponding concessions from China.
Swiss Economic Minister Guy Palmerin met with both sides in Geneva on Friday, stating that the mere fact the discussions are occurring is already a success. He indicated that if a roadmap for continuing dialogue unfolds, it could ease tensions further, with discussions potentially lingering into Sunday or Monday.
