Treasury Secretary Bessent Suggests Major Breakthrough in China Trade Deal — More Information Coming Monday

According to @SecScottBessent, there has been a high level of productivity in the trade discussions with China. He mentioned that specific information will be disclosed the following day, but assured that the discussions were fruitful. pic.twitter.com/v85uugnMnV

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

In a post on Truth Social on Saturday night, the president himself implied that there has been significant advancement by stating, in his characteristic uppercase style, “GREAT PROGRESS HAS BEEN MADE!”

pic.twitter.com/i7n2REBf2J

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

A positive and successful meeting took place with China in Switzerland today. Various topics were deliberated on and many agreements were reached. A complete restart was negotiated in a friendly yet constructive manner. The aim is to witness an opening of China to American enterprises, which will benefit both China and the United States. REMARKABLE PROGRESS ACHIEVED!!!

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.