*

Geneva talks hailed as 'substantial progress'

*

USTR Greer describes result as 'a deal we struck'

*

Bessent, Greer to announce details on China talks on

Monday

(Recasts with US officials' comments at conclusion of talks)

By Emma Farge and John Revill

GENEVA, May 11 (Reuters) - U.S. Treasury Secretary Scott

Bessent on Sunday reported "substantial progress" in U.S. talks

with China's top economic officials to de-escalate a damaging

trade war, but offered no details of an agreement reached as two

days of negotiations wrapped up in Geneva.

Bessent told reporters that details would be announced on

Monday and that U.S. President Donald Trump was fully aware of

the results of the "productive talks."

U.S. Trade Representative Jamieson Greer, who participated

in the talks with Bessent, Chinese Vice Premier He Lifeng and

two Chinese vice ministers, described the conclusion as "a deal

we struck with our Chinese partners" that will help reduce the

$1.2 trillion U.S. global goods trade deficit.

"And this was, as the Secretary pointed out, a very

constructive two days. It's important to understand how quickly

we were able to come to agreement, which reflects that perhaps

the differences were not so large as maybe thought," Greer said,

adding that the Chinese officials were "tough negotiators"

The meeting was the first face-to-face interaction between

Bessent, Greer and He since the world's two largest economies

imposed tariffs well above 100% on each other's goods.

Although Bessent has said the bilateral tariffs were too

high and needed to come down in a de-escalation move, he did not

offer any details of reductions agreed and took no questions

from reporters.

Earlier, White House economic adviser 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, Trump gave a positive reading of the talks,

saying the two sides had negotiated "a total reset... in a

friendly, but constructive, manner."

"A very good meeting today with China, in Switzerland. Many

things discussed, much agreed to," Trump posted 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!!!," Trump added, without elaborating on the progress.

Speaking on "Sunday Morning Futures" on Fox News with Maria

Bartiromo, Hassett said Beijing is eager to re-set trade

relations with the United States.

"It looks like the Chinese are very, very eager to play ball

and to re-normalize things," Hassett said.

Hassett also said more trade deal announcements could be

imminent following last week's announcement of an agreement with

the United Kingdom. He said he had been briefed by Commerce

Secretary Howard Lutnick on two dozen pending deals in

development with USTR Greer.

"They all look a little bit like the UK deal but each one is

bespoke," Hassett said.

GATED VILLA

The negotiating teams met at the gated villa of

Switzerland's U.N. ambassador, overlooking Lake Geneva in the

leafy suburb of Cologny. Black Mercedes vans with sirens

shuttled to and from the venue, which was bathed in bright

sunshine.

Neutral Switzerland was chosen as the venue following

approaches by Swiss politicians on recent visits to China and

the United States.

Washington is seeking to reduce its $295 billion goods trade

deficit with Beijing and persuade China to renounce what the

United States says is a mercantilist economic model and

contribute more to global consumption, a shift that would

require politically sensitive domestic reforms.