China trade talks a breakthrough. He says the meeting in Geneva, Switzerland, led to a “total reset” in the two countries’ economic relationship. This comes after months of rising tensions and a damaging tariff war.

Mr Bessent, Mr Greer and Mr He were meeting in Geneva after weeks of growing tensions prompted by Mr Trump’s tariff blitz starting in February and retaliation from Beijing that has brought nearly US$600 billion (S$779 billion) in annual bilateral trade to a virtual standstill.