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President Donald Trump announced on True Social Saturday night that “great progress” had been made during weekend trade negotiations.
“Many things” were discussed between US officials, including Treasury Secretary Scott Bescent, and a Chinese delegation at a meeting in Geneva, Switzerland. [was] I agreed,” Trump said.
The Associated Press reported that negotiations were scheduled to continue on Sunday, but no major breakthroughs were announced.
US Treasury Secretary Scott Bescent will depart on Saturday to meet with Chinese officials on tariffs in Geneva, Switzerland. (Fabrice Coffrini/AFP via Getty Images)
When Trump swears as China’s new US ambassador, pivotal trade talks with Beijing Loom: “What timing”
The administration announced tariffs on April 2, and later imposed a 145% tariff on Chinese goods.
After cutting the mutual tariffs of other countries to a 10% baseline for 90 days, China has raised US tariffs to 125%.
Members of the Chinese delegation will leave the site where trade talks were held with the Chinese and US delegation in Geneva, Switzerland on Saturday. (Reuters/Dennis Balib House)
Trump is committed to 10% baseline tariffs, according to the White House, despite the announcement of the UK’s trade deal
On Thursday, Trump told reporters at the White House in China that he wanted to make “so many” deals, ending a fierce tariff fight.
The president did not provide many details on Saturday night, but described the agreement as “a complete reset negotiated in a friendly yet constructive way.”
“We want to see the opening from China to American businesses for the benefit of both China and the US,” Trump wrote in the Post. “Great progress!!!”
Treasury Secretary Scott Bescent heads to talks between China and the US delegation in Geneva, Switzerland. (Reuters/Dennis Balib House)
Trump says 80% tariffs on China are “right” ahead of weekend talks with Beijing
Trump, a longtime tariff advocate, argued that “fair” obligation could address the country’s record $1.2 trillion trade deficit from 2024 and encourage US manufacturing to return to work.
Bescent said in April that tariffs could cost China up to 10 million jobs, making it unsustainable for China’s tariffs.
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“Even if tariffs drop, they could lose five million jobs,” Bescent told White House reporters. “Please don’t forget that we are a country with a loss. They sell us almost five times more items than we sell to them. So we are responsible for removing these tariffs.”
Diana Stancy and the Associated Press of Fox News Digital contributed to this report.
Alexandra Koch is a news writer for Fox News Digital. Before joining Fox News, Alexandra covered news, crime, religion and military in the Southeast.
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