Scott Bessent Announces ‘Substantial Progress’ in US-China Trade Talks

Treasury Secretary Scott Bessent on Sunday said the Trump administration has made “substantial progress” in trade negotiations between the U.S. and China.

Bessent and United States Trade Representative Jamieson Greer have been engaging with China in Geneva, Switzerland, on how to strike a more fair trade deal with China.

Bessent said in a statement:

I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.

“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,” Greer said.

“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” he continued.

The two countries had engaged in a tariff back-and-forth since Trump announced 145 percent tariffs on China. In response, China had levies on American goods to 125 percent.

Trump praised the first day of negotiations with China, saying that American negotiators had a “very good meeting with China” in a Truth Social post.

“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump wrote.

Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3.