On Saturday, senior officials from Washington and Beijing concluded the first day of trade talks in Geneva, Switzerland. The president has been embroiled in a tense trade war since he raised U.S. tariffs on China to a combined 145 percent earlier this year, which prompted the Beijing to retaliate with a 125 percent levy on American imports.

President Trump said "great progress" was made in trade talks with China, describing the meetings as "a total reset" and touting some agreements.

President Donald Trump has floated cutting tariffs on China to 80% ahead of a weekend meeting as he looks to deescalate the trade war