US President Donald Trump paid tribute to a “total reset” in trade relations in US-China early Sunday after the first day with conversations between the top US and Chinese officials in Geneva aiming to reduce tensions caused by his aggressive tariff rollout, AFP reported.
Trump praised “very good” discussions and considered them “a total reset that was negotiated in a friendly but constructive way.”
“We will see in favor of both China and the United States an opening of China for American business,” he said in a truth Social Post on Saturday night in Washington.
He added: “Great progress made !!!”
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met on Saturday with Chinese Deputy Prime Minister He Lifeng for the first such negotiations between the world’s two largest economies since Trump escaped steep new charges on China last month, sparkling robust retaliation from Beijing.
Discussions are expected to continue Sunday in Geneva, according to a person who is familiar with the negotiations who were not authorized to speak in public.
“Contact in Switzerland is an important step in promoting the solution of the problem,” said a comment published by China’s state news agency Xinhua.
‘De-Calate’
The closed door negotiations took place in the Swiss ambassador to the United Nations in Geneva, a discreet villa with sky -blue shutters near a large park on the left bank of Lake Geneva.
Tariffs imposed by Trump in China since the beginning of the year are currently 145 percent, with cumulative US tasks on some Chinese goods reaching a staggering 245 percent.
By retaliation, China escaped 125 percent taxes on US goods and cemented what seems to be an almost trade embargo between the two countries.
Trump signaled on Friday that he possibly lowered the sky -high tariffs on Chinese imports and went to social media to suggest that an “80% duty on China seems right!”.
“The president would like to prepare it with China,” US trade secretary Howard Lutnick told Fox News Friday. “He would like to step down the situation.”
Trump’s press secretary Karoline Leavitt stated that the United States would not lower customs unilateral and that China would need to admit.
In any case, a step to this level would be a symbolic gesture as tariffs would remain unaffordable steep.
‘No winners’
Bessent has said that the meetings in Switzerland would focus on “de-scaling” and not a “large trade agreement”.
Beijing has insisted that the United States must first lift tariffs and promised to defend his interests.
“Commercial War and Customs Beats give no winners,” said a commentary run by Xinhua early Sunday.
China’s Deputy Prime Minister went into the discussions that were bent by news on Friday that China’s exports rose last month despite the trade war.
The unexpected development was attributed by experts for a redirection of trade to Southeast Asia to mitigate US tariffs.
Bessent and he met two days after Trump revealed a trade agreement with Britain, the first deal with any country since releasing his flash of sweeping global tariffs.
The five-page, non-binding agreement with London confirmed to nervous investors that the United States are willing to negotiate sector-specific relief from recent tasks-in this case on British cars, steel and aluminum.
In turn, Britain agreed to open its markets to us beef and other agricultural products.
But a 10 percent baseline tax on most British goods remained intact, and Trump remains “obliged” to keep it in place for other countries, Leavitt told journalists on Friday.
A few hours later, Trump seemed to contradict her, which suggested that there could be some flexibility for baseline – but only if the right offers could be reached.
“There may be an exception at some point. We’ll see,” he said.
“If someone did something unusual for us, it’s always possible.”