Trump announces US-China trade relations 'total reset' following Geneva talks
What's the story
United States President Donald Trump has declared a "total reset" of trade relations with China. The development comes on the heels of talks in Geneva, Switzerland, to ease tensions caused by tariffs between them.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng to resolve tariff-related disputes.
Positive outcome
Trump hails 'great progress' in US-China trade discussions
Trump took to his Truth Social platform to announce the outcome of the Geneva talks.
He said, "A very good meeting today with China, in Switzerland. Many things discussed, much agreed to."
The President further stressed that a "total reset negotiated in a friendly but constructive manner" was achieved in these talks.
Tariff adjustments
Trump hints at potential tariff reduction
Trump's tariff onslaught shook the world markets, triggering a US-China trade war.
The US levied tariffs worth 145% on Chinese goods—on some items, it was higher than 245%. China hit back with 125% levies on US imports.
However, Trump recently hinted he might walk back on tariffs, saying an 80% levy on China "seems right."
Concessions required
US seeks concessions from China in tariff negotiations
On Friday, US Commerce Secretary Howard Lutnick told Fox News that Trump would like to de-escalate the situation with China.
Despite Trump's hints at potential tariff reductions, his press secretary Karoline Leavitt clarified that the US would not unilaterally lower tariffs.
China would need to make concessions for any such move, she stated.