Trump Hails US-China Trade Talks as ‘Total Reset’ in Geneva
U.S. President Trump described the ongoing U.S.-China trade talks in Geneva as a “total reset.” With both nations aiming to mitigate rising tensions from tariffs, discussions emphasize the need for concessions from China. As talks continue, there is a cautious optimism about de-escalating trade hostilities and moving towards a more productive relationship.
U.S. President Donald Trump characterized the opening day of U.S.-China trade discussions as a significant “total reset”. The meetings took place in Geneva, aiming to mitigate ongoing tensions stemming from Trump’s controversial new tariffs. Trump noted in a post on Truth Social that discussions were “very good” and emphasized the need for increased access of American businesses to China.
“GREAT PROGRESS MADE!!!” he exclaimed, highlighting his optimism about the talks. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer represented the U.S. in talks with Chinese Vice Premier He Lifeng. This marked the first round of formal negotiations since a series of tariffs were imposed by Trump, which led to strong counter-measures from Beijing.
Sources indicated that the Geneva talks would carry on into Sunday, suggesting an ongoing dialogue between the nations. A commentary from Xinhua, China’s state media, called the meetings an essential step toward resolving the issues.
The negotiations unfolded at a discreet residence, the Swiss ambassador’s villa, on the shores of Lake Geneva. Notably, tariffs imposed by Trump have escalated to a staggering 145 percent, while Chinese retaliatory tariffs reached 125 percent. These developments have created a complex environment that some are likening to a trade embargo.
On Friday, Trump hinted at the possibility of reducing tariffs, suggesting an “80% tariff on China seems right.” Meanwhile, U.S. Commerce Secretary Howard Lutnick stated that Trump is seeking to work out a resolution, indicating a desire to de-escalate tensions. However, press secretary Karoline Leavitt made it clear that any tariff reductions would not be unilateral, requiring concessions from China.
The focus of the Swiss discussions, as stated by Bessent, was on “de-escalation” rather than crafting a large-scale trade agreement. On the other hand, Beijing continues to stand firm, insisting that the U.S. must first lift tariffs. Xinhua echoed this sentiment, declaring that there are “no winners” in trade wars.
Just prior to the Geneva meetings, China experienced a surprising increase in exports, which analysts attributed to trade rerouting to Southeast Asia as a strategy to avoid the brunt of U.S. tariffs. Meanwhile, shortly before the Geneva meetings, Trump announced a trade agreement with Britain, marking the first such deal post-tariff rollout.
The terms, which confirmed U.S. tariff relief in certain sectors like cars and steel, also included British commitments to open its market to U.S. agricultural products. However, a 10 percent tariff on most British goods remained intact, with Trump signaling a potential willingness to adjust the baseline condition if beneficial deals are secured.
Despite the complexity of the negotiations, both sides face substantial pressure to find a path forward in an increasingly strained trade environment.
In summary, the U.S.-China trade discussions in Geneva signify a renewed effort to address escalating tensions stemming from tariffs imposed by both nations. Trump’s characterization of the talks as a “total reset” reflects a cautious optimism, although significant hurdles remain, including the lifting of tariffs by the U.S. and the need for concessions from China. Both countries seem motivated to avoid the ramifications of a prolonged trade war, recognizing that there are no clear winners in such disputes.
Original Source: www.bryantimes.com
