Trump announces 'total reset' in US‑China trade negotiations
Donald Trump announced a "total reset" in trade talks with China, highlighting "great progress" following a meeting in Geneva.
What you need to know
- Talks in Geneva: U.S. President Donald Trump reported a "total reset" in negotiations with China, which took place in Geneva.
- Tariffs on products: Current tariffs are 145% on goods from China and 125% on goods from the U.S.
- Next steps: Talks are set to continue on Sunday.
Details of the "total reset"
President Donald Trump announced that a "total reset" in trade relations with China was achieved during the talks in Geneva.
He emphasized the friendly atmosphere of the meeting, noting that many issues were discussed and agreed upon. He added that "great progress" was made, though he did not disclose specific details of the arrangements.
Will tariffs be reduced?
Before the meeting, Trump and U.S. Secretary of the Treasury Scott Bessent expressed a desire to reduce tariffs, which are currently 145% on goods from China and 125% on goods from the U.S.
Trump suggested an appropriate rate would be 80%. Bessent noted that the current tariff level is unsustainable and effectively serves as an embargo.
Expectations for further talks
Despite Trump's optimism, the "New York Times" points out that expectations for a breakthrough in the talks remain low.
This is the first meeting after weeks of deadlock, and achieving a significant reduction in tariffs might be challenging. However, the U.S. aims for a profound change in trade relations with China.
