President Donald Trump late Saturday said trade negotiations with China were progressing well with “much agreed to” between the international adversaries.
“A very good meeting today with China, in Switzerland,” Trump wrote on social media. “Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner.”
Treasury Secretary Scott Bessent met for several hours earlier Saturday in Switzerland with Chinese trade officials to negotiate an agreement to end the trade war between the world’s two largest economies, with China showing signs of an economic fallout over the weeks-long dispute.
“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!!!” Trump wrote.
Trump raised tariffs on many of America’s trading partners, including China, on April 2, a day he dubbed “Liberation Day,” arguing European, Asian and other foreign nations had taken advantage of the U.S. over decades of what he called bad trade deals. The reciprocal tariffs from Trump on April 2 led many countries to reach out to the U.S. to negotiate new deals, according to the administration. Trump paused most of the tariffs a week later amid plummeting markets, he said, to give the U.S. time to negotiate with dozens of countries, but the tariffs on Chinese imports into the U.S. remained in place.
A deal with the United Kingdom was announced just last week.
In response to Trump’s new 145% tariff on Chinese imports to the U.S., China responded with a 125% tariff on American goods.
Trump did not provide details of the Saturday trade negotiations with China, but was upbeat about the progress.
• Brett Rowland and Morgan Sweeney contributed to this report.
