Trump Declares ‘Total Reset’ After U.S.-China Trade Talks
President Trump has announced a ‘total reset’ in U.S.-China relations after trade talks, expressing optimism over the negotiations. However, significant tariffs remain in place, prompting discussions to possibly reduce them. The outcome of these talks may influence future economic relations between the two countries.
In a recent announcement, President Donald Trump proclaimed that a “total reset” has been achieved in U.S.-China relations following intense trade discussions. This declaration comes after a period of significant tension caused by aggressive tariffs imposed by both countries. High-stakes negotiations took place over the weekend, signaling a potential shift in the ongoing trade war with the world’s second-largest economy.
On Saturday, Trump shared his remarks on Truth Social, stating, “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.” He emphasized the need for greater access for American businesses in China to benefit both economies, declaring, “GREAT PROGRESS MADE!!!”
Despite the optimistic tone from the U.S. side, the specifics of the negotiations remain undisclosed by either nation. However, China’s state-run news agency Xinhua reported that the meetings on Saturday mark “an important step toward resolving the dispute.”
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer represented the U.S. in Geneva, trying to finalize a new agreement with their Chinese counterparts. Reports indicate that Saturday’s talks extended for more than eight hours, yet no formal deal was reached, with discussions set to continue on Sunday.
The tariffs currently in place are quite steep — Trump has set a 145 percent duty on various Chinese imports, while China retaliated with 125 percent tariffs on U.S. goods. This has caused significant ramifications; for instance, China exports many electronics, textiles, and furniture to the U.S., while importing grains and oilseeds from American farmers.
More recently, Trump suggested the possibility of lowering these tariffs as a way to ease tensions, even mentioning a reduction to 80 percent was feasible. Commerce Secretary Howard Lutnick noted during a Fox News interview that the president might settle on a 34 percent tariff rate, which was his stated figure back on April 2.
The recent trade talks between the U.S. and China indicate a potential thaw in relations, as President Trump claims a significant reset has occurred. While both sides appear to be moving towards resolution, the specifics remain unclear. Continued dialogue will be essential as both economies adjust to the lasting impacts of high tariffs that have reshaped trade dynamics.
Original Source: ca.news.yahoo.com
