U.S. Treasury Secretary Scott Bessent announced on Sunday that recent trade discussions with Chinese officials in Geneva were “productive.”
He stated that the negotiations resulted in “a great deal” of progress, promising to provide more comprehensive details during a briefing scheduled for Monday morning.
Bessent also revealed that he and U.S. Trade Representative Jamieson Greer briefed President Donald Trump on the discussions during a call on Saturday evening, ensuring that he was “fully informed” about the outcomes.
The Treasury Secretary mentioned that their team engaged with China’s vice premier and two vice ministers, whom he referred to as “integrally involved” in these crucial discussions.
Greer commented on Sunday that a potential agreement had been reached, although he did not divulge any specific details. He characterized the exchanges as “very constructive.”
“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,” he elaborated.
“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” Greer added.
The high-stakes discussions in Switzerland take place against a backdrop of significant economic uncertainty brought on by the ongoing U.S.-China trade conflict.
The trade tensions have escalated into a tariff dispute in recent weeks after Trump announced a 145% tariff on imports from China. In retaliation, China imposed its own elevated tariffs on U.S. goods, raising them to 125%.
This ongoing stalemate has caused volatility in the financial markets and raised alarm about potential shortages of goods as well as increasing prices for consumers.
Trump expressed optimism following the first day of negotiations, posting on Truth Social that U.S. officials had a “very good meeting today with China.”
“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump wrote.
