Trump Cheers " Significant Headway " as US-China Trade Talks in Geneva Persist

US and Chinese officials wrapped up the second day of bargaining in Switzerland, which US President Donald Trump labelled "great progress" and a "total reset".

The primary 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 was discussed remain undisclosed at this point. Nevertheless, US Treasury Secretary Scott Bessent indicated that additional details will be provided on Monday.

Greer, however, mentioned without clarifying his exact reference, "It's crucial to recognize how swiftly we managed to reach an understanding, suggesting that maybe the discrepancies weren't as significant as some might have believed."

In the meantime, China has stayed quiet on its end.

On Saturday evening, Trump utilized his social media platform to announce that "significant headway" was being achieved towards potentially achieving a "complete overhaul" of the tariffs that have pushed the worldwide economy to the edge.

"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 discussions took place at the Swiss ambassador's residence in New York City, where both nations convened to address their issues.

The trade war between Washington and Beijing has unsettled global markets, causing vessels loaded with Chinese products to remain docked in ports. The talks underway aim to address issues similar to these disruptions.

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• The US and China have initiated tariff discussions in Geneva, aiming to ease their trade disagreement.

Talks might assist in stabilizing global markets disrupted by the conflict between the U.S. and China, resulting in cargo vessels loaded with Chinese products being held up at harbors, pending outcomes regarding duties.

Trump last month raised US tariffs on China to a combined 145%, and China retaliated with a 125% levy on American imports. Tariffs that high essentially amount to the two countries boycotting each other’s products, disrupting trade that last year exceeded €586 billion.

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 are starting from scratch'

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 made clear that one of his objectives is to de-escalate,” US Commerce Secretary Howard Lutnick, who was not in Geneva, told “Fox News Sunday.”

He added that both the US and China had imposed tariffs that were “too high to do business, but that’s why they are talking right now.”

“We are the consumer of the world. Everybody wants to sell their goods here,” Lutnick said. “So they need to do business with America, and we’re using the power of our economy to open their economy to our exporters.”

Kevin Hassett, director of the White House National Economic Council, told Fox News, "what’s going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very, very eager to play ball and to renormalise things.”

“We’re essentially starting over, starting from scratch with the Chinese,” Hassett said, “and they seem to think that they really want to rebuild a relationship that’s great for both of us.”

The talks mark the first time the sides have met face-to-face to discuss the issues. And though prospects for a breakthrough are limited, even a small reduction in tariffs, especially if implemented simultaneously, could help restore confidence.

“Negotiations to begin de-escalating the growing US–China trade war are badly needed, and it’s a positive sign that both sides were able to gracefully move beyond their bickering over who had to call first,” Jake Werner, director of the East Asia Programme at the Quincy Institute for Responsible Statecraft, said.

The Trump administration has imposed tariffs on countries worldwide, but its dispute with China has been the most intense. Trump’s import taxes on Chinese goods include a 20% charge aimed at pressuring Beijing to do more to stop the flow of the synthetic opioid fentanyl into the US.

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%.