Concrete details on U.S.-China tariff negotiations remain scarce, but top Trump administration officials indicated Sunday that talks were bearing some fruit.
“I’m happy to report that we’ve made substantial progress between the United States and China in the very important trade talks,” Treasury Secretary Scott Bessent told reporters, adding that a full briefing with more specifics will come on Monday.
U.S. Trade Representative Jamieson Greer, who also participated in the negotiations with a Chinese delegation led by Vice Premier He Lifeng, suggested some sort of deal was made.
Greer pointed to America’s global trade deficit in goods, which reached a record high of $1.2 trillion in 2024 across all trading partners, with China accounting for about $295 billion of that last year.
“Just remember why we’re here in the first place—the United States has a massive $1.2 trillion trade deficit, so the president declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency,” he added.
Neither official mentioned anything about cutting tariffs.
Vice Premier He also avoided addressing tariffs specifically as he told reporters that the U.S. and China had agreed to establish a trade consultation mechanism, while similarly citing progress in talks with both sides reaching a consensus.
The White House didn’t immediately respond to a request for comment.
Also earlier on Sunday, the White House signaled optimism that relations are headed for a fresh start, potentially de-escalating trade tensions after President Donald Trump hit China with a 145% tariff and Beijing retaliated with a 125% duty.
At such high levels, trade between the world’s two largest economies would come to a near-total halt. While both sides have allowed some tariff exemptions, Bessent previously acknowledged that the current situation is not sustainable.
He noted that Trump has said “we’re essentially starting over starting from scratch with the Chinese, and they seem to think that they really want to rebuild a relationship that’s great for both of us.”
Hassett’s comments on rebooting relations echo a social media post from Trump on Saturday evening.
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” he wrote on his Truth Social platform. “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!!!”
He said more agreements could be announced in the next few weeks, perhaps as soon as this coming week.
“There are a whole bunch of things that are very, very close to the finish line,” Hassett said.
