President Trump claims a ‘total reset’ has occurred in U.S.-China trade talks, following increased tariffs that fueled a trade war. High-stakes discussions are taking place in Switzerland, although no agreements have been reached yet. Speculation about lowering tariffs may provide a path forward for both economies.
In recent developments surrounding U.S.-China trade relations, President Donald Trump has declared a “total reset” has taken place after weeks of heightened tension due to aggressive tariffs. The two countries are currently engaged in significant discussions, aiming to repair the strained economic ties exacerbated by a trade war.
On Saturday, Trump shared details of a recent meeting with Chinese officials via his platform, Truth Social, emphasizing that the talks in Switzerland were conducted in a “friendly, but constructive” manner. He asserted, “A very good meeting today with China… a total reset negotiated.” Furthermore, he expressed hopes for a more open Chinese market for American businesses, claiming, “GREAT PROGRESS MADE!!!”
Despite the optimistic tone, no official agreement has been released. China’s state-run news agency, Xinhua, characterized the meetings as a “significant step” towards resolving ongoing disputes. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer have been actively involved in negotiations with Chinese counterparts in Geneva.
The marathon talks reportedly lasted over eight hours, but a definitive agreement remains elusive as discussions are set to continue on Sunday. Trump’s tariffs have soared to 145 percent on many Chinese goods, while China retaliated with 125 percent on U.S. products, with serious implications for both economies.
The U.S. relies heavily on China for a range of goods, from electronics to textiles, while engaging in trade for American agricultural products, notably grains and oilseeds. Recently, Trump hinted he might consider lowering tariffs in an effort to alleviate the pressure, suggesting a decrease to 80 percent, and Commerce Secretary Howard Lutnick mentioned potentially settling around 34 percent.
The trade talks come at a critical time as both nations seek to navigate through the challenges brought on by these tariffs. Observers are watching closely to see whether these discussions can yield a breakthrough that may benefit the economies of both countries in the near future.
In summary, President Trump’s declaration of a ‘total reset’ with China reflects a significant shift in the ongoing U.S.-China trade negotiations. While discussions at high levels have continued, no agreements have been established as both parties evaluate the future of tariffs that have deeply impacted trade. Speculation about lowering tariffs suggests a willingness to ease tensions, but the outcome remains uncertain as talks proceed.
Original Source: ca.news.yahoo.com
