Trump Announces 'Great Progress' in Tariff Talks with China
President Donald Trump declared ‘great progress’ in the ongoing tariff negotiations with China during a weekend meeting in Geneva, Switzerland.
President Donald Trump took to Truth Social on Saturday night to share updates on the high-level trade negotiations between U.S. and Chinese officials in Geneva, Switzerland. Trump stated that ‘great progress’ was achieved over the weekend, with ‘many things’ discussed and ‘much agreed to’ during the talks, which extended over 10 hours. Despite no major breakthroughs being announced, the discussions are set to continue into Sunday.
The negotiations come in the wake of the U.S. imposing a 145% tariff on Chinese goods, followed by China’s retaliatory increase of tariffs on U.S. goods to 125% after a brief reduction to a 10% baseline. Treasury Secretary Scott Bessent, who led the U.S. delegation, had previously warned that the tariffs could cost China up to 10 million jobs, underscoring the economic stakes involved.
Trump, a proponent of tariffs, has argued that fair duties could help address the U.S.’s significant trade deficit and bolster domestic manufacturing. He described the ongoing negotiations as a ’total reset’ conducted in a friendly yet constructive manner, aiming for an opening of China to American businesses. The president’s comments reflect optimism about reaching a deal that could ease the intense tariff battle between the two economic giants.