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President Donald Trump claims that there has been “a total reset” with China after his aggressive tariffs fueled a trade war with the world’s second-biggest economy.
The two countries are holding high-stakes talks this weekend after being at loggerheads for weeks over the tariffs.
“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,” Trump posted on Truth Social Saturday evening. “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!!!”
While no handout of the negotiations has yet been provided by either country, China’s state-run news agency Xinhua described Saturday’s meetings as “an important step toward resolving the dispute.”
Saturday’s meeting with China lasted at least eight hours, according to the Wall Street Journal, but a deal was not announced.
The White House announced this week that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer would be meeting with their Chinese counterparts in Geneva in an attempt to thrash out a deal.
Trump imposed tariffs of 145 percent on Chinese goods, while China has set 125 percent tariffs on U.S. products, with huge consequences for both countries. China supplies a massive amount of electronics, toys, textiles and furniture to the U.S. as it buys grains and oilseeds from American farmers, as well as oil and gas.
But in recent days, Trump has hinted that he could lower the tariffs in a bid to turn down the heat between the two nations.
The president on Friday suggested lowering the tariffs to 80 percent.
Commerce Secretary Howard Lutnick said Friday that Trump may even settle near 34 percent during an interview with Fox News, the rate the president announced on April 2.
English (US) ·