Trump declares ‘total reset’ in breakthrough China trade talks
Donald Trump announced a "total reset" in trade talks with China, highlighting "great progress" after the meeting in Geneva.
What do you need to know?
- Talks in Geneva: The President of the USA, Donald Trump, reported a "total reset" in negotiations with China, held in Geneva.
- Tariffs on products: Current tariffs are 145% for goods from China and 125% for goods from the USA.
- Next steps: Talks are to be continued on Sunday.
What are the details of the "total reset"?
President Donald Trump announced that during the talks in Geneva, a "total reset" in trade relations with China was achieved.
He emphasized that the meeting took place in a friendly atmosphere, and many issues were discussed and agreed upon. He added that "great progress" was made, although he did not disclose the details of the arrangements.
Will tariffs be reduced?
Before the meeting, Trump and the US Secretary of the Treasury, Scott Bessent, indicated a desire to reduce tariffs, which are currently 145% for goods from China and 125% for goods from the USA.
Trump suggested that an appropriate rate would be 80%. Bessent noted that the current tariff level is unsustainable and effectively acts as an embargo.
What are the expectations for further talks?
Despite Trump's optimism, the "New York Times" points out that expectations for a breakthrough in the talks are low.
This is the first meeting after weeks of deadlock, and a significant reduction in tariffs might be challenging to achieve. However, the USA's goal is a profound change in trade relations with China.
The next round of talks is scheduled to continue on Sunday at 2:00 PM Eastern Time.
