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.

Newsweek has contacted the White House and the Chinese Foreign Ministry for comment. President Donald Trump raised U.S. tariffs on China to a combined 145 percent, prompting the Chinese to retaliate with a 125 percent levy on American imports.

The president said reducing tariffs to 80 percent from the current 145 percent “sounds right,” as U.S. and Chinese negotiators prepare to meet in Switzerland.