US, China begin second day of tariff negotiations

Talks between the US and Chinese officials continued into their second day in Geneva on Sunday, as both sides discussed how to de-escalate the trade war that threatens to inflict major damage on the world economy.

Chinese Vice Premier He Lifeng met with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer in their first face-to-face meetings since the world's two largest economies imposed tariffs well above 100% on each other's goods.

Talks were still underway after 3-1/2 hours on Sunday on the outskirts of Geneva, following eight hours of discussions on Saturday. Bessent declined to comment to reporters at his hotel before setting off for the talks on Sunday. But White House economic advisor Kevin Hassett said the Chinese were “very, very eager” to engage in discussions and rebalance trade relations with the United States. Hassett also told Fox News that more foreign trade deals could be coming with other countries as soon as this week.

Overnight, US President Donald Trump gave a positive reading of the talks, saying the two sides had negotiated “a total reset ... in a friendly, but constructive, manner.”

He did not elaborate on the progress. Washington is seeking to reduce its $295 billion goods trade deficit with Beijing. China has pushed back against what it sees as external interference. It wants Washington to lower tariffs and clarify what it wants China to buy more of.