Trump Cheers " Significant Headway " as U.S.-China Trade Talks Persist in Geneva

American and Chinese negotiators concluded the second day of discussions in Switzerland, with U.S. President Donald Trump describing the talks as having made "significant headway" and achieving a "complete overhaul."

The chief American negotiator in the trade discussions, Jamieson Greer, stated that the sessions in Geneva resulted in "significant progress."

The world’s two leading economic powers are trying to find solutions to their trade dispute following US President Donald Trump's heavy tariffs and Beijing's retaliation.

The specifics of what transpired during negotiations remain undisclosed at this point. Nevertheless, US Treasury Secretary Scott Bessent indicated that additional details will be provided on Monday.

Greer, however, made a comment without clarifying his exact reference: "It's crucial to recognize how swiftly we managed to reach an accord, suggesting that maybe the discrepancies weren't as significant as some might have presumed."

In the meantime, China has stayed mum on its stance.

On Saturday night, Trump took to his social media account to say that “great progress” was being made toward what he suggested could be a “total reset” on the tariffs that have put the global economy on the brink.

"A very good meeting today with China, in Switzerland. Many things discussed, much agreed to," the US president posted on his Truth Social platform.

"We want to see, for the good of both China and the US, an opening up of China to American business," Trump added.

Meanwhile, in an editorial published by its state-run news agency before Sunday’s second day of negotiations kicked off, China stated that it would “firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”

The two countries met at the residence of the Swiss ambassador to the United Nations to hold the talks.

Washington and Beijing's tariff dispute has disrupted world markets, leaving ships in port with goods from China. These negotiations are aimed at solving problems like those mentioned.

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• US and China tariff talks begin in Geneva with hope of de-escalating trade dispute

Negotiations could help stabilise global markets shaken by the US-China standoff, which has left ships carrying Chinese goods stranded in ports, awaiting final decisions on tariffs.

Last month, Trump increased U.S. tariffs on Chinese goods to an aggregate of 145%, prompting China to respond with a 125% duty on American imports. Such elevated duties effectively result in both nations imposing boycotts on each other’s products, potentially derailing trade that surpassed €586 billion last year.

In its editorial, Xinhua stated, “Talks should never be a pretext for continued coercion or extortion, and China will firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”

We're beginning anew

Senior members of the Trump administration followed the president's lead, insisting that a reset of US-China trade relations could be on the horizon.

Secretary Bessent has emphasized that one of his goals is to reduce tensions," said US Commerce Secretary Howard Lutnick, who was not present in Geneva, during an interview with "Fox News Sunday.

He noted that both the U.S. and China have implemented tariffs that are "excessively high for conducting business, which explains why they are currently negotiating."

We are global consumers," Lutnick stated. "Everyone aims to sell their products here. Therefore, they must engage in commerce with America, and we're leveraging our economic strength to expose their market to our exporting businesses.

Kevin Hassett, who leads the White House National Economic Council, informed Fox News, “it’s likely that connections will be reset. The Chinese seem extremely keen to cooperate and to restore normalcy.”

We're basically beginning anew with the Chinese," Hassett stated, "starting from square one, and they appear eager to establish a relationship that benefits both parties significantly.

These discussions represent the initial occasion where both parties have convened directly to address their concerns. Despite minimal expectations for significant progress, a modest decrease in trade barriers, particularly if applied at the same time, might aid in rebuilding trust.

"Initiating negotiations to reduce tensions in the escalating U.S.-China trade conflict is crucial, and it's encouraging that both parties managed to smoothly overcome their disagreement about who should make the initial contact," stated Jake Werner, director of the East Asia Program at the Quincy Institute for Responsible Statecraft.

The Trump administration has levied tariffs globally, yet their conflict with China stands out as the most severe. Among these duties on Chinese products, a 20% tax was introduced to compel Beijing to take stronger action against the influx of synthetic opioids like fentanyl into the U.S.

The remaining 125% is part of a dispute that dates back to Trump’s first term and comes atop tariffs he imposed on China then, meaning the total tariffs on some Chinese goods can exceed 145%.