The U.S. and China have resumed crucial tariff talks that have put the global economy on edge, but appeared to have diverging views of where the negotiations presently stand.

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.

The US president claims there has been a "total reset" in trade relations following a day of talks between the nations.