Trump Declares 'Total Reset' in U.S.-China Trade Talks Amid Ongoing Tensions
President Trump claims 'great progress' was made in recent trade discussions with China, as talks are set to continue this weekend in Geneva.
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Overview
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer engaged in extensive trade talks with Chinese officials in Geneva on May 10. During these discussions, President Trump communicated an optimistic view, suggesting that the U.S. could lower tariffs from 145% to 80%. Despite his claims of 'great progress' and a 'total reset' in relations, skepticism remains about any significant breakthrough. Chinese officials, represented by Vice Premier He Lifeng, criticized U.S. tariffs as 'illegal'. Talks will continue on Sunday to negotiate terms affecting over $660 billion in trade.
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Analysis
- U.S. and Chinese officials have initiated talks in Geneva, aiming to address the ongoing trade dispute that involves significant tariffs harming global trade.
- While there is cautious optimism for tariff reductions, experts stress that achieving substantial outcomes is unlikely, as any agreement must extend beyond verbal assurances.
- The current high tariff rates, reaching 145% on U.S. imports from China and 125% on Chinese imports, are causing strain on international trade relations and are a point of significant concern.
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FAQ
President Trump suggested potentially lowering US tariffs on Chinese imports from 145% to 80% if China opens its market further to American businesses.
The US was represented by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, while China was represented by Vice Premier He Lifeng.
President Trump described the talks as a 'total reset' and declared 'great progress' was made, characterizing the negotiations as friendly but constructive, although no substantial breakthrough was reported.
There remains skepticism about any significant breakthrough due to distrust on both sides, issues beyond trade such as influence in the Indo-Pacific and the Ukraine conflict, and Chinese officials critiquing US tariffs as 'illegal'.
The trade talks are scheduled to continue on Sunday following the initial day of negotiations on May 10, 2025.
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