President Donald Trump said that there is a “total reset” in US-China trade relations, before day two of talks between top officials from Washington and Beijing.

“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. 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!!!” the president said on Truth Social.

There are meetings scheduled on Monday between US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng, Newsmax reported.

“These talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China,” Nathan Sheets, Citigroup global chief economist, said to AFP.

Bessent praised the progress on the talks when he spoke to the press on Sunday.

“A great deal of the productivity we’ve seen. We will be giving details tomorrow. But I can tell you that the talks were productive. We had the Vice Premier, two Vice Ministers who were integrally involved, Ambassador Jamieson and myself,” the Treasury secretary said.

🚨 BREAKING: Treasury Secretary Scott Bessent issues new statement after many hours of negotiating with the Chinese on trade…

"A great deal of the productivity we've seen. We will be giving details tomorrow. But I can tell you that the talks were productive. We had the Vice… pic.twitter.com/9Rj3tp2bUA

— Eric Daugherty (@EricLDaugh) May 11, 2025

“And I spoke to President Trump, as did Ambassador Jamieson last night, and he is fully informed of what is going on. There will be a complete briefing tomorrow morning,” he said.

When Greer spoke to the press, he indicated that a deal had been made.

“It’s important to understand how quickly we were able to come to agreement which were that perhaps the differences were not so large as maybe thought,” the trade representative said.

🚨 JUST IN: A DEAL has been struck with the Chinese on trade after Scott Bessent's discussions…

GREER: "It's important to understand how quickly we were able to come to agreement which were that perhaps the differences were not so large as maybe thought."

"That being said,… pic.twitter.com/EhpFEC2fKe

— Eric Daugherty (@EricLDaugh) May 11, 2025

“That being said, there was a lot of groundwork that went into these two days… we’re confident that the deal we struck with our Chinese partners will help us to resolve, work toward resolving that national emergency,” he said.