Trump and China close in on trade deal after productive talks, Bessent says

Published: Sunday, May 11, 2025 at 4:20 pm

Trump Administration Hints at Progress in China Trade Talks

The Trump administration is signaling potential progress in its ongoing trade negotiations with China, according to Treasury Secretary Scott Bessent. Speaking from Switzerland on Sunday, Bessent described the talks as "productive" and indicated that further details would be released soon. The discussions involved high-level officials from both sides, including Vice Premier-level representation from China and U.S. Trade Representative Jamieson Greer. President Trump was kept informed of the developments.

The backdrop to these talks is a complex trade dispute marked by significant tariffs. The Trump administration has imposed tariffs as high as 145% on Chinese goods, aiming to address the U.S.'s trade deficit. China has retaliated with its own tariffs, including a 125% duty on U.S. goods.

Trump himself expressed optimism on Truth Social, stating that a "total reset" had been negotiated "in a friendly, but constructive, manner." He emphasized the administration's desire for China to open up to American businesses.

These talks come after the Trump administration signed a separate trade deal with the UK last week, the first since Trump's "Liberation Day" announcement. The UK deal, while maintaining some existing tariffs, aims to increase market access for American exports, particularly in agriculture.

The timing of these negotiations is significant, especially given the recent appointment of a new U.S. Ambassador to China. Both sides have expressed a willingness to negotiate, with China's Ministry of Commerce confirming they were "evaluating" the U.S. offer to hold talks.

BNN's Perspective: While any progress towards resolving the trade dispute is welcome, the use of high tariffs and the back-and-forth nature of these negotiations create uncertainty for businesses and consumers. A balanced approach that prioritizes fair trade practices while minimizing economic disruption is crucial for a sustainable solution.

Keywords: Trump, China, trade deal, tariffs, Scott Bessent, Jamieson Greer, trade negotiations, U.S. trade deficit, Truth Social, UK trade deal, American exports, China trade talks, Geneva, Beijing, reciprocal tariffs, trade barriers.

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