US-China Negotiations Resume Trade Talks

Source Credit : Reuters

President Donald Trump praised the discussions with China in Switzerland on Saturday, stating that both parties had successfully negotiated a complete reset in a cordial yet productive manner.

"A very good meeting today with China, in Switzerland. Many things discussed, much agreed to," Trump posted on his Truth Social platform. Trump added: "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!!!"

Earlier, high-ranking officials from the United States and China concluded the initial day of discussions in Geneva with the goal of resolving a potential trade conflict that could have severe repercussions on the global economy. The negotiations are set to continue on Sunday, as confirmed by a reliable source familiar with the ongoing talks.

Chinese Vice Premier He Lifeng held an eight-hour meeting with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. This marked their first face-to-face meeting since the two largest economies in the world imposed tariffs exceeding 100% on each other's goods.

Following the discussions held at the residence of Switzerland's ambassador to the United Nations, neither side provided any statements regarding the content of the talks or indicated any significant progress towards reducing the high tariffs in place. The meetings concluded around 8 p.m. local time (1800 GMT).

Bessent, Greer, and He convened in Geneva after weeks of escalating tensions resulting from President Trump's tariff onslaught that began in February. Beijing's retaliatory measures have effectively halted nearly $600 billion in annual bilateral trade.

The ongoing trade dispute, along with President Trump's recent decision to impose tariffs on numerous countries, has significantly disrupted supply chains, unsettled financial markets, and heightened concerns of a potential global economic downturn.