President Donald Trump says “great progress” was being made in ongoing U.S.-China talks over tariffs menacing the global economy, and even suggested a “total reset" was on the table as tariff negotiations are set to continue Sunday in Switzerland.

President Donald Trump on Friday set negotiating terms for his administration’s first discussions with China, which are set to take place in Geneva this weekend.

An 80% levy would be a significant reduction from the 145% tariff currently facing many Chinese goods. However, that number could still be seen as prohibitive to trade. It is unclear if Trump wants the 80% rate to be the long-term tariff for China,