“I am pleased to report that we have made significant progress between the United States and China in a very important trade negotiation,” Bessent said.
He responded to Trump’s own positive sentiment, suggesting on social media that the “huge progress” he suggested to him could be a “complete reset” of tariffs that put the global economy at an advantage.
The Chinese delegation did not immediately assess what happened, but Beijing put forward a more measurable tone of the overall direction of the negotiations. China said in an editorial to its state-run news agency that it would “resolutely reject any proposals that undermine the core principles or undermine the broader causes of global equity.”
The discussion was held in a stately villa, the residence of the Swiss ambassador to the United Nations, and when it unfolded in Washington, there was little information on the scene or return. Besseent provided little detail on what was discussed, but said he and U.S. Trade Representative Jamieson Greer spoke with Trump on Saturday night. U.S. officials also plan to provide more detailed briefings Monday morning. “It is important to understand how quickly we can reach consensus, which reflects that the difference may not be as big as possible,” Greer and Bessent said, speaking at a reporter near the villa, but asked no questions.
Greer also stressed that Trump’s top priority means ending the trade deficit with China, reaching $263 billion last year.
“We are confident that the deal we have reached with our Chinese partners will help us resolve and work hard to resolve national emergencies,” Greer said.
Discussions may help stabilize the U.S.-China stands up to an exciting world market, which is sent in ports, and Chinese goods are reluctant to unload until they get the final news of tariffs.
Trump raised U.S. tariffs on China in total 145% last month, and China retaliated by attacking U.S. import taxes with a 125% tax. The high tariffs are basically attributed to countries boycotting each other’s products, destroying trade last year by more than $660 billion.
“Negotiations should never be an excuse for ongoing coercion or extortion, and China will firmly reject any proposals that undermine the core principles or undermine the wider cause of global equity,” Xinhua News Agency said in an editorial.
Still, senior members of the Trump administration are following the president’s leadership, insisting that a reset of our trade relations with China may be happening.
“Secretary Beth made it clear that one of his goals is to downgrade,” U.S. Commerce Secretary Howard Lutnick said on Sunday Fox News, not in Geneva. He added that both the U.S. and China imposed tariffs that were too high to do business, but that’s why they’re talking now.”
“We are consumers of the world. Everyone wants to sell their own goods here.” So they need to do business with Americans, and we are using the power of the economy to open up the economy to exporters. ”
“There is a good chance that the relationship will be restarted. It seems that the Chinese are very eager to play and bring things back together,” Kevin Hassett, director of the White House National Economic Commission, told Fox News Channel’s “Sunday Morning Futures.”
“We start essentially, with the Chinese,” Hassett said. “They seem to think they really want to rebuild a relationship that is good for both of us.”
The negotiations marked the first time the two sides discussed these issues face to face. Although the prospect of a breakthrough is small, even a small drop in tariffs, especially taking it at the same time, can also help restore some confidence.
“There is a desperate need to negotiate to start the degradation of the growing U.S.-China trade war, which is a positive signal that both sides can gracefully surpass the quarrel they had to call first,” said Jake Werner, director of East East STACTITUTE at Quincy responsible Cattecraft, in an email.
The Trump administration has imposed tariffs on countries around the world, but the fight with China is the most intense. Trump’s import tax on goods from China includes 20% charges aimed at putting pressure on Beijing to prevent the flow of synthetic opioid fentanyl into the United States.
The remaining 125% of the disputes involved can be traced back to Trump’s first term and imposed tariffs on China at the time, meaning that the total tariffs on certain Chinese goods could be more than 145%.
