President Donald Trump announced Saturday night that “great progress” had been made during a weekend round of high-stakes trade negotiations between U.S. and Chinese officials.
The talks, held in Geneva, brought together senior officials including U.S. Treasury Secretary Scott Bessent and a Chinese delegation. According to Trump’s post on Truth Social, “many things” were discussed and “much [was] agreed to” during more than 10 hours of talks. Trump described the dialogue as a “total reset negotiated in a friendly, but constructive, manner.”
While few specifics were provided, negotiations are set to continue Sunday, according to the Associated Press.
The ongoing trade standoff escalated sharply in recent months.
On April 2, the Trump administration imposed a sweeping round of tariffs, including a 145% duty on Chinese goods.
In response, China raised its tariffs on U.S. imports to 125%, while simultaneously reducing reciprocal tariffs on other countries to 10% for a 90-day period — a move seen as an attempt to isolate the U.S. economically.
Speaking at the White House on Thursday, Trump told reporters that China “very much” wanted to reach a deal to end the intensifying tariff war. On Saturday, he reiterated his belief that “fair” tariffs are key to addressing the U.S.’s ballooning trade deficit, which hit a record $1.2 trillion in 2024. Trump has long argued that rebalancing trade could spur the return of American manufacturing jobs.
“We want to see, for the good of both China and the U.S., an opening up of China to American business,” Trump wrote.
Treasury Secretary Bessent has maintained that China’s retaliatory tariffs could come at a steep economic cost. In April, he warned that the measures might result in up to 10 million job losses in China, making their current trade posture “unsustainable.”
Despite Trump’s optimistic tone, analysts caution that the road to a comprehensive trade agreement remains uncertain. More concrete developments are expected as negotiations continue Sunday.
