U.S. President Donald Trump hailed “great progress” in trade talks with China on Saturday.
He said that the two biggest economies in the world had achieved “a total reset” after weeks of mounting trade tensions.
“We want to see, for the good of both China and the U.S., an opening up of China to American business,” Trump wrote on Truth Social early Sunday. “Great progress made,” he added.
“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump said.
Trump did not elaborate on the progress achieved, nor did U.S. Treasury Secretary Scott Bessent, who is leading the talks in Switzerland.
On Saturday, Bessent and U.S. Trade Representative Jamieson Greer met in Geneva with China’s Vice Premier He Lifeng, who is Beijing’s lead negotiator on economic and trade affairs with the U.S.
The meeting comes after both countries hiked tariffs on each other’s imports, triggering financial mayhem and huge disruptions to global supply chains.
But ahead of the gathering in Geneva, Trump signaled that a thaw was on the way. On Friday, he opened the door to easing U.S. tariffs on China — currently at a minimum of 145 percent — down to 80 percent.
However, trade experts warned that this level of tariffs would still be a major barrier for most companies trading between the two countries.
The post Trump hails ‘total reset’ with China after Geneva trade meeting appeared first on Politico.
