US President Donald Trump has declared a “total reset” in US-China trade relations following the first round of face-to-face negotiations between American and Chinese officials in Geneva, aimed at easing a growing tariff standoff. The closed-door discussions took place at the residence of Switzerland’s UN ambassador in the suburb of Cologny.

Saturday’s eight-hour meeting brought together China’s Vice Premier He Lifeng, US Treasury Secretary Scott Bessent, and US Trade Representative Jamieson Greer. It marked the first high-level contact since escalating tariffs brought bilateral trade to a near standstill.

Describing the session as “very good” and “friendly, but constructive,” Trump posted on Truth Social: “We want to see, for the good of both China and the US, an opening up of China to American business… GREAT PROGRESS MADE!!!”

However, Trump provided no specifics on what progress had been achieved. His statement came amid continued tensions over the Trump-China tariffs, which have significantly reshaped global commerce.

Heavy tariffs freeze US-China trade and disrupt global supply chains

Since February, Trump’s administration has imposed sweeping tariffs of up to 145% on Chinese imports, with some cumulative duties reaching 245%. In response, Beijing has levied tariffs of up to 125% on US exports, effectively freezing much of the $600 billion annual trade volume between the two countries.

This US-China tariff negotiation stalemate has disrupted global supply chains, shaken financial markets, and raised fears of a broader economic downturn. Despite these concerns, Trump continues to view tariffs as a strategic tool. On Friday, he floated the idea of new levies, stating, “an 80% tariff… seems right.”

The American trade deficit with China, which reached $295 billion last year, remains a key concern for Washington. US officials are pushing Beijing to reduce the role of state subsidies and allow greater access for American companies. China, in turn, has accused the US of economic overreach and has demanded specifics on what products the US wants it to purchase.

China, US disagree over who initiated dialogue

Both sides appear eager to de-escalate, but disagreement persists over who requested the talks. Trump has suggested China initiated the discussions, while Beijing maintains it was Washington that reached out. Regardless, the Geneva meeting is being seen as a tentative but positive step forward.

China’s state-run Xinhua news agency criticized the US’s tariff campaign as a “reckless abuse” of economic power but acknowledged that the Geneva trade talks represented a “positive and necessary step to resolve disagreements and avert further escalation.”

US Commerce Secretary Howard Lutnick stated that Trump is open to dialogue but insists on concessions from Beijing: “The president would like to work it out with China. He would like to de-escalate the situation.”

On her part, White House Press Secretary Karoline Leavitt affirmed that no rollback of tariffs would occur unless China offers measurable reciprocity. “We are committed to fair trade, but fairness goes both ways,” she said.

Swiss Economy Minister Guy Parmelin, who met both delegations on Friday, welcomed the dialogue. “If a road map can emerge and they decide to continue discussions, that will lower the tensions,” he said, adding that talks could extend into Sunday or Monday.

As the US-China tariff negotiations continue, analysts warn that the outcome will hinge on whether both governments are willing to compromise on core economic strategies. With the stakes high and global supply chains already strained, the Geneva dialogue may prove a crucial turning point.