Switzerland’s Economy Minister Federal Councillor Guy Parmelin, left, shakes hands with Chinese Vice Premier He Lifeng, right, next to Switzerland’s President Karin Keller-Sutter, center, during a bilateral meeting between Switzerland and China, in Geneva, Switzerland, on Friday, May 9, 2025. (Martial Trezzini/Keystone via AP, Pool)Read More
Chinese Vice Premier He Lifeng, left, Switzerland’s Economy Minister Federal Councillor Guy Parmelin, center, Switzerland’s President Karin Keller-Sutter, right, speak, during a bilateral meeting between Switzerland and China, in Geneva, Switzerland, on Friday, May 9, 2025. (Martial Trezzini/Keystone via AP, Pool)Read More
US Secretary of the Treasury Scott Bessent, is waiting for the photo, during a bilateral meeting between Switzerland and the United States, in Geneva, Switzerland, on Friday, May 9, 2025. (Martial Trezzini/Keystone via AP)Read More
US Secretary of the Treasury Scott Bessent, right, shakes hands with Switzerland’s President Karin Keller-Sutter, center, next to Switzerland’s Economy Minister Federal Councillor Guy Parmelin, left, during a bilateral meeting between Switzerland and the United States, in Geneva, Switzerland, on Friday, May 9, 2025. (Martial Trezzini/Keystone via AP)Read More
By PAUL WISEMAN, DIDI TANG and JAMEY KEATENUpdated 9:06 AM GMT+7, May 11, 2025Share
GENEVA (AP) — President Donald Trump said “great progress” was being made in ongoing U.S.-China talks over tariffs menacing the global economy, and even suggested a “total reset” was on the table as tariff negotiations are set to continue Sunday in Switzerland.
No major breakthrough was announced in discussions that lasted over 10 hours between U.S. officials, including Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and a delegation led by Chinese Vice Premier He Lifeng. Still, Trump struck an upbeat tone.
“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,” the president wrote on his Truth Social platform. “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!!!”
In an editorial late Saturday, China’s official Xinhua News Agency said the talks had come about “at the request of the U.S. side” — noting an earlier point of contention — and said China agreed to them “after taking full account of global expectations, national interests and appeals from U.S. businesses and consumers.”
“Whether the road ahead involves negotiation or confrontation, one thing is clear: China’s determination to safeguard its development interests is unshakable, and its stance on maintaining the global economic and trade order remains unwavering,” Xinhua said.
“Talks should never be a pretext for continued coercion or extortion, and China will firmly reject any proposal that compromises core principles or undermines the broader cause of global equity,” it added.
Several convoys of black vehicles left the residence of the Swiss ambassador to the U.N. in Geneva, which hosted the talks aimed at de-escalating trade tensions between the world’s two biggest economies. Diplomats from both sides also confirmed that the talks took place.
The opening day of negotiations were held in the sumptuous 18th-century “Villa Saladin” overlooking Lake Geneva. The former estate was bequeathed to the Swiss state in 1973, according to the Geneva government.
Trump’s assessment aside, prospects for a major breakthrough appeared dim when the talks opened. Still, there is hope that the two countries will scale back the massive taxes — tariffs — they have slapped on each other’s goods, a move that would relieve world financial markets and companies on both sides of the Pacific Ocean that depend on U.S.-China trade.
Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the countries’ boycotting each other’s products, disrupting trade that last year topped $660 billion.
And even before talks got underway, Trump suggested Friday that the U.S. could lower its tariffs on China, saying in a Truth Social post that “ 80% Tariff seems right! Up to Scott.″
Sun Yun, director of the China program at the Stimson Center, noted it will be the first time He and Bessent have talked. She doubts the Geneva meeting will produce any substantive results.
“The best scenario is for the two sides to agree to de-escalate on the … tariffs at the same time,” she said, adding even a small reduction would send a positive signal. “It cannot just be words.”
Since returning to the White House in January, Trump has aggressively used tariffs as his favorite economic weapon. He has, for example, imposed a 10% tax on imports from almost every country in the world.
