Trump claims total reset in US-China trade relations after tariff talks in Geneva
3 minute readPublished: Sunday, May 11, 2025 at 3:04 am
Trump Declares "Total Reset" in US-China Trade Talks Amidst High Tariffs
President Donald Trump is touting a "total reset" in US-China trade relations following the first day of high-stakes talks in Geneva, Switzerland. The discussions, involving top US and Chinese officials, aimed to de-escalate a trade war fueled by Trump's aggressive tariff policies.
Trump, taking to his Truth Social platform, praised the "very good discussions" and emphasized the goal of opening up China to American businesses. However, despite the optimistic rhetoric, concrete details about the progress remain scarce. Neither side has publicly announced any specific agreements or steps towards reducing the crippling tariffs that have effectively stalled nearly $600 billion in annual bilateral trade.
The meetings, which lasted approximately eight hours, involved US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and China's Vice-Premier He Lifeng. These face-to-face talks mark the first such meeting since the two economic giants imposed tariffs exceeding 100% on each other's goods. Trump's tariffs currently stand at 145%, with cumulative US duties on some Chinese goods reaching 245%. China has retaliated with levies of 125% on US goods.
The location of the talks, held at the residence of Switzerland's ambassador to the UN, was kept under wraps until the delegations were spotted. The trade dispute, coupled with Trump's recent imposition of tariffs on other countries, has disrupted supply chains, rattled financial markets, and raised concerns about a global economic downturn.
While the US seeks to reduce its $295 billion goods trade deficit with China and encourage a shift away from what it views as a mercantilist economic model, Beijing is pushing back against perceived interference and demanding tariff reductions. Economic analysts remain cautious, with low expectations for a breakthrough.
BNN's Perspective: While the positive language from Trump is encouraging, the lack of concrete outcomes raises concerns. A "total reset" sounds promising, but without tangible progress on tariff reductions and a clear path forward, the trade war's impact on the global economy will likely persist. The fact that talks are continuing is a positive sign, but a long road lies ahead to resolve the complex issues at the heart of this trade dispute.
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