After two days of talks in Switzerland, President Donald Trump’s envoys touted what they said was significant movement toward reaching a trade deal with China.
Treasury Secretary Scott Bessent told reporters on Sunday that there was “substantial progress” and a “great deal of productivity” in the discussions with Chinese officials.
“We will be giving details tomorrow, but I can tell you that the talks were productive,” Bessent added.
.@SecScottBessent says there has been a “great deal of productivity” in trade talks with China: “We will be giving details tomorrow, but I can tell you that the talks were productive.” pic.twitter.com/v85uugnMnV
— Rapid Response 47 (@RapidResponse47) May 11, 2025
The delegation from China also indicated the negotiations went well.
Chinese Vice Premier He Lifeng said the talks marked “an important first step” and promised a joint statement, according to Bloomberg.
As it stands, the United States imposed an overall tariff rate on Chinese goods at 145%. Beijing responded by raising tariffs on U.S. goods to 125%.
China’s delegation reportedly included President Xi Jinping’s top security official, a sign the discussions broached the fentanyl crisis in addition to trade.
The world’s two largest economies have been roiled as a result of the trade war, which escalated with Trump’s “Liberation Day” tariffs last month.
Bessent noted that he and U.S. Trade Representative Jamieson Greer spoke to Trump the night before.
“He is fully informed of what is going on,” Bessent said of the president.
Trump himself posted about the talks on Truth Social in the evening on Saturday.
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump said.
“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!!!” the president added.
Greer, who was standing beside Bessent, said China’s officials “worked very diligently” and were “very tough negotiators.”
.@USTradeRep in Geneva: “The U.S. has a massive $1.2 trillion trade deficit, so the President declared a national emergency … We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency.” pic.twitter.com/1kuPhzzGLp
— Rapid Response 47 (@RapidResponse47) May 11, 2025
He echoed what Bessent said, declaring how the past two days were “very constructive,” and then made a stark observation about the timeframe.
“It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought,” Greer said.
“That being said, there was a lot of groundwork that went into these two days,” he continued.
Greer also emphasized that it was “important” to remember why they were there in the first place.
“The United States has a massive $1.2 trillion trade deficit, so the president declared a national emergency and imposed tariffs,” Greer said.
“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” he added.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a Truth Social post on Friday.
Trump officials have been negotiating on trade with a host of nations impacted by the president’s “Liberation Day” tariffs, which hinge on a national emergency declaration.
Last week, the White House unveiled a trade deal framework with the United Kingdom.
