The first day of delicate negotiations between U.S. and Chinese delegations over tariffs ended with no major breakthroughs announced, but President Donald Trump praised “HUGE PROGRESS.”
The meeting in Switzerland lasted more than 10 hours and included Treasury Secretary Scott Bessent, US Trade Representative Jamison Greer and a delegation led by Chinese Vice Premier He Lifeng.
Hours after the talks ended, Mr Trump took to social media to express his views on the possibility of a complete reset of US-China trade.
“Had a very good meeting with China in Switzerland today. Many issues were discussed and many agreements reached. A complete reset, done in a friendly but constructive atmosphere,” Mr. Trump wrote on his Truth Social platform.
“We want China to be more open to American business, which will benefit both China and the US. HUGE PROGRESS WILL BE MADE!!!”
He provided no further details, and White House officials released little information during and after the first day of talks.
Mr. Trump's post came after an Associated Press official said the talks would continue Sunday. The official asked not to be identified because of the sensitivity of the discussions, which could help stabilize global markets.
The talks were held in secrecy, and neither side made any comments to reporters after the discussions.
Several columns of black cars left the residence of the Swiss ambassador to the UN in Geneva, where the negotiations were taking place.
The first day of negotiations took place in Saladin's luxurious 18th-century villa overlooking Lake Geneva.
Despite Mr Trump's words, the prospects for a significant breakthrough looked dim when the talks began.
There is hope that the two countries will be able to reduce the significant tariffs they have imposed on each other's goods, which would provide relief to global financial markets and companies on both sides of the Pacific Ocean that rely on trade between the US and China.
Last month, Trump increased U.S. tariffs on Chinese goods to 145%. In response, China imposed a 125% tariff on American imports.
In effect, such high tariffs amount to countries boycotting each other, undermining trade that exceeded $660bn (£450bn) last year.
Before the start
Sourse: breakingnews.ie
