@SecScottBessent announced a significant amount of progress in trade discussions with China, stating, “We will be giving details tomorrow, but I can tell you that the talks were productive.” [Link: pic.twitter.com/v85uugnMnV]

— Rapid Response 47 (@RapidResponse47) May 11, 2025

The president hinted at substantial advancements in a Truth Social post on Saturday night, expressing in his typical all-caps style, “GREAT PROGRESS HAS BEEN MADE!”

pic.twitter.com/i7n2REBf2J

— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 10, 2025

There was a productive meeting today with China in Switzerland. Numerous topics were discussed, and a lot was agreed upon. A complete reset was negotiated in a friendly yet constructive way. The aim is to open up China to American businesses for the benefit of both nations. GREAT PROGRESS MADE!!!

Trump imposed stiff tariffs on China, and pundits have feared an all-out trade war that could stun the world economy. But Bessent says their work is paying off:

“We will be giving details tomorrow. “But I can tell you that the talks were productive,” Bessent told members of the media on Sunday from Switzerland. “We had the vice premier, two vice ministers who were integrally involved, Ambassador Jamieson [Greer] and myself. And I spoke to President Trump, as did Ambassador Jamieson last night, and he is fully informed of what is going on.”

The Trump administration has leveled tariffs as high as 145% on Chinese goods as the president looks to bring parity to the nation’s chronic trade deficit with foreign countries. Trump paused his April 2 reciprocal tariff plan on dozens of nations as countries called on the administration to make trade deals, but he upped the ante on China after Beijing rebuked Trump’s trade policies with tariffs of its own, including 125% duty taxes on U.S. goods.