The talks, aimed at easing ongoing tensions between the world’s two largest economies, are continuing this weekend.
Trump stated that the reset was achieved “in a friendly, but constructive, manner” and emphasized the importance of opening up China to American businesses. He did not specify the details of the agreements reached.
Leading the discussions on the U.S. side are Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. They met with Chinese Vice Premier He Lifeng, Beijing’s top negotiator on trade matters. This dialogue comes in the wake of reciprocal tariff hikes that disrupted global trade and financial markets.
Trump had earlier signaled the possibility of reducing the steep U.S. tariffs on Chinese goods—from a minimum of 145 percent to around 80 percent. Despite this potential reduction, trade experts warned that the proposed tariff levels would still pose significant obstacles for most cross-border commerce.
China’s Xinhua News Agency responded by criticizing what it called the “reckless abuse of tariffs” by the Trump administration but acknowledged the Geneva meeting as a “positive and necessary step” toward de-escalation. The statement reaffirmed China’s commitment to protecting its development interests and maintaining stability in the global trade system.
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