Trump Claims ‘Total Reset’ Announced in Critical U.S.-China Trade Talks

President Trump announced a ‘total reset’ in U.S.-China trade relations during ongoing talks in Switzerland. The high-stakes negotiations come after weeks of escalating tariffs between the two nations. Trump hinted at possible reductions in tariffs as discussions continue into the weekend, with both sides signaling a desire to improve economic relations.

In a dramatic assertion, President Donald Trump stated that a “total reset” has been achieved in trade relations with China amid ongoing negotiations. This announcement follows intense discussions that have occurred as both nations grapple with the financial consequences of escalating tariffs. Their talks are taking place this weekend, marking a critical moment following weeks of tension.

On Saturday evening, Trump shared his positive assessment on Truth Social, saying, “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 importance of fostering greater access for American businesses in China, declaring that substantial progress was made during the meetings.

Chinese media, particularly the state-run Xinhua agency, echoed the sentiment, describing the talks as an “important step toward resolving the dispute.” Currently, there has been no formal announcement detailing any agreements from either side, which leaves uncertainty in the air as both countries remain tight-lipped about the specifics of the discussions.

U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer traveled to Geneva for these high-stakes negotiations, meeting with their Chinese counterparts for an extensive session that reportedly lasted over eight hours. While details of a potential agreement have yet to emerge, discussions are set to continue on Sunday.

The implications of these negotiations are profound, as Trump imposed tariffs of 145% on many imports from China. Conversely, China retaliated with its own 125% tariffs on American products, creating a detrimental cycle for both economies. This intense tariff war has resulted in significant trade disruption, with the U.S. relying heavily on Chinese goods ranging from electronics to textiles.

In a notable shift, Trump has hinted at the possibility of reducing these tariffs. On Friday, he indicated he could lower them to 80%, and Commerce Secretary Howard Lutnick mentioned during a Fox News interview that the administration might even consider settling the rate closer to 34%. This potential softening may play a crucial role in de-escalating tensions moving forward.

As talks progress between the U.S. and China, President Trump’s declaration of a ‘total reset’ highlights a possible shift in trade relations. The high-stakes negotiations could pave the way towards significant changes in tariffs, which have heavily impacted both economies. With ongoing dialogue and hints of tariff reductions, the coming days will be pivotal in determining how these two economic powerhouses move forward together.

Original Source: ca.news.yahoo.com