‘Total reset negotiated’: Donald Trump hails US-China tariff de-escalation talks
US President Donald Trump on Sunday called for a “total reset” of his nation’s strained trade relations with China after officials of the two largest economies in the world met in Geneva to de-escalate tensions sparked by the tariff rollout. He claimed “great progress” was made during the talks, where “many things were discussed and agreed to”.
Donald Trump said he wants an opening up of China for US businesses.
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. 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 wrote on his Truth Social platform.
Donald Trump’s tariff push upended the global markets. It also started a trade war of sorts, with the US and China imposing crippling tariffs on each other’s imports.
On Saturday, US treasury secretary Scott Bessent and trade representative Jamieson Greer met with Chinese vice premier He Lifeng to iron out differences over tariffs. It was the first such negotiations between the world’s two largest economies since Trump slapped steep new levies on China last month.
The discussions are expected to continue on Sunday in Geneva. “The contact in Switzerland is an important step in promoting the resolution of the issue,” a commentary published by China’s state news agency Xinhua said.
The closed-door negotiations took place at the residence of the Swiss ambassador to the United Nations in Geneva, a discreet villa with sky blue shutters near a large park on the left bank of Lake Geneva.
US-China trade war
Donald Trump has levied a total of 145 percent tariffs; on some items, they exceeded 245 percent. In retaliation, China slapped 125 percent levies on US goods.
The US president on Friday signaled that he may lower the tariffs, as he said on social media that 80 percent levies on China “seems right”.
US Commerce Secretary Howard Lutnick told Fox News the same day that the president would like to de-escalate the situation with China.
Trump’s press secretary, Karoline Leavitt, however, clarified that the United States would not lower tariffs unilaterally and that China would need to make concessions.
With inputs from AFP
