Donald Trump Declares 'Total Reset' In US-China Trade Ties, Hails 'GREAT PROGRESS' Amid Tariff Battle

2025-05-10 08:09:52

(MENAFN- Live Mint) United States President Donald Trump praised Saturday's talks with China in Geneva of Switzerland, describing them as a“total reset” conducted in a“friendly yet constructive atmosphere”.

In a Truth Social post, Donald Trump hailed the“very good” talks in Geneva aimed at de-escalating trade tensions after the United States slapped steep tariffs on goods from China, drawing stiff retaliatory measures from Beijing.

“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. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!” he said.

US-CHINA TALKS IN GENEVA

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading two days of negotiations in Geneva since Donald Trump slapped 145 per cent tariffs on Chinese imports and Beijing responded with 125 per cent duties on US goods.

While both sides have tried to project an upper hand in the ongoing trade war, the ground situation has rattled financial markets.

Before the Geneva talks began, Donald Trump had maintained that the US wouldn't lower tariffs for China with a curt“no” .

“We were losing with China, on trade, a trillion dollars a year - more, actually,” Trump said.“You know what we're losing now? Nothing. That's not bad.”

In fact, the question of who initiated the call became a source of dispute.

“They said we initiated? Well, I think they ought to go back and study their files," Trump said. Also Read | Donald Trump draws the line: No tariff cuts for China without 'substantial' deal

Despite repeatedly maintaining that he wouldn't lower the tariffs, the US President nonetheless on Friday volunteered that an 80% levy“seems right.”

“We have to make a great deal for America,” Donald Trump told reporters in the Oval Office late Friday.“I think we're going to come back with a fair deal for both China and us.”

(With agency inputs)

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