Donald Trump has hailed a “total reset” in trade relations between the United States and China following the opening day of renewed negotiations in Switzerland. The former president took to social media to describe the talks as “very good,” emphasising that discussions had taken place in a “cordial, but constructive, manner.”
This marks the first high-level meeting between Washington and Beijing since the US imposed sweeping tariffs on Chinese goods earlier this year. The escalating trade conflict has seen the US enforce tariffs of 145% on Chinese imports, prompting retaliatory levies of 125% on selected American products by Beijing.
The weekend talks, held in Geneva, bring together China’s Vice-Premier He Lifeng and newly appointed US Treasury Secretary Scott Bessent. Little detail has emerged from the discussions so far, but they are set to continue into Sunday.
“We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!” Trump added.
On Friday, White House Press Secretary Karoline Leavitt made it clear that the United States would not unilaterally roll back tariffs, insisting that China must offer concessions of its own. Tensions had flared ahead of the meeting, with Beijing urging the US to ease economic pressure, while Bessent noted the objective was “de-escalation” rather than the forging of a major trade agreement.
According to Chinese state media, Beijing’s decision to engage in the discussions came after weighing international expectations, national interests, and feedback from US businesses operating in the region.
Recent reports, including an investigation by the BBC, have highlighted the impact of tariffs on Chinese exporters. Sorbo Technology, a manufacturer in China, revealed that half of its products—typically destined for the US—are now stockpiled in warehouses due to plummeting demand.
Meanwhile, the US economy has shown signs of strain amid the ongoing trade war, shrinking by an annual rate of 0.3% in the first quarter of the year as firms rushed to import goods ahead of rising tariffs.
Tensions escalated further last month when Trump announced a universal baseline tariff on all imports into the US, branding the day as “Liberation Day” and sparking fresh concern over the future of global trade.