Trump Declares ‘Total Reset’ in U.S.-China Trade Relations After Talks
Trump announced a “total reset” in U.S.-China trade relations after talks in Geneva, focusing on reducing tensions from recent aggressive tariffs. Key officials from both nations met to negotiate, although China demands a lift on tariffs first. The outcome of these discussions could shape future trade between the world’s largest economies.
U.S. President Donald Trump expressed optimism early Sunday regarding a “total reset” of U.S.-China trade relations after the first day of talks between American and Chinese officials in Geneva. This dialogue aims to ease tensions that emerged due to Trump’s recent imposition of aggressive tariffs. Describing the discussions as “very good,” Trump announced on his Truth Social account that it was a friendly yet constructive negotiation.
He stated, “We want to see, for the good of both China and the U.S., an opening up of China to American business,” and added with enthusiasm, “GREAT PROGRESS MADE!!!” The talks included U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer meeting with Chinese Vice Premier He Lifeng. This was the first significant interaction between the two largest economies since Trump’s new trade levies, which led to a severe backlash from China.
The negotiations are set to carry on Sunday, according to an anonymous source familiar with the ongoing discussions. Meanwhile, China’s state-run news agency Xinhua characterized the meeting as a critical move toward resolving trade issues. The closed-door meetings took place at the Swiss ambassador’s residence in Geneva, emphasizing confidentiality amidst the sensitive negotiations.
Currently, tariffs imposed by the U.S. on Chinese goods have escalated to 145 percent, with some imports facing cumulative duties as high as 245 percent. In a rough retaliatory maneuver, China enacted 125 percent tariffs on American products. Trump hinted at the possibility of reducing the high tariffs on Chinese imports, suggesting on social media that an “80% Tariff on China seems right!”
Commerce Secretary Howard Lutnick commented on Trump’s desire to improve relations, saying, “The president would like to work it out with China. He would like to de-escalate the situation.” Yet, press secretary Karoline Leavitt clarified that the U.S. would not unilaterally lower tariffs without concessions from China. So, any proposed reductions would be more symbolic than truly impactful.
Bessent noted that meetings in Switzerland would prioritize “de-escalation” rather than striking a major trade deal. However, China has firmly stated that the U.S. needs to lift tariffs first, reaffirming its intent to protect its trade interests. A commentary in Xinhua emphasized, “Trade wars and tariff battles yield no winners.”
Interestingly, China’s vice premier entered the discussions buoyed by reports showing an uptick in exports last month, attributed to rerouted trade to avoid U.S. tariffs. Just days preceding this, the U.S. unveiled a separate trade agreement with Britain, marking Trump’s first deal post-tariff imposition, which sparked investor concern. This agreement around specific sectors like cars and agricultural products appears to reassure some parties of the willingness to negotiate.
However, while there remains a 10 percent baseline levy on British goods and Trump’s commitment to preserving it for other countries, he hinted at potential flexibility, stating that exceptions could be possible based on exceptional conditions.
In summary, President Trump is optimistic about resetting U.S.-China trade relations after the initial talks in Geneva. The discussions aim to alleviate already escalating tensions fueled by steep tariffs. While the U.S. signals a willingness to negotiate, maintaining a tough stance on tariffs, China insists on lifting them as a precursor for further cooperation. This ongoing trade dialogue appears pivotal for the future of both economies amid a backdrop of retaliatory tariffs and trade agreements.
Original Source: www.bryantimes.com
