The post Trump claims U.S.-China talks in Switzerland led to ‘key progress’ on trade reset appeared on BitcoinEthereumNews.com.

President Donald Trump has called the latest U.S.-China trade talks a breakthrough. He says the meeting in Geneva, Switzerland, led to a “total reset” in the two countries’ economic relationship. This comes after months of rising tensions and a damaging tariff war. The US trade representative, Robert Lighthizer, met with his Chinese counterpart Liu He in Geneva over the weekend. US Treasury Secretary Scott Bessent headed the US team, and Vice Premier He Lifeng led China’s team. The discussions occurred after the United States escalated a trade war by imposing tariffs of 145 percent on Chinese goods in April. China swiftly retaliated with 125 percent tariffs on American goods. Trump, who has adopted a tough stance toward China since re-entering office, wrote about the meeting on Truth Social. “Many things discussed, much agreed to,” he wrote. He noted that it is a total reset, negotiated in a friendly but firm way that allows the two countries to move forward on things they can do together. Trump added that they wanted to see China open up to American business for the benefit of both China and the United States and emphasized that great progress had been made. Negotiations in Geneva were more upbeat than many had anticipated. Both delegations characterized the meeting in reports as “frank” and “productive.” Trump signals possible tariff compromise as trade talks progress For some time, President Trump had insisted that he would not reduce tariffs without major concessions from China. He said the United States had been losing a trillion dollars a year—or more—in trade with China but added that they were no longer losing anything, which he considered a positive change. And yet, somehow, now he’s hinting that maybe he’s flexible. On Friday, Trump said an 80% tariff was “probably the correct number,” suggesting perhaps…

---

Filed under: News - @ May 11, 2025 2:19 am