Former President Donald Trump announced on Truth Social that “great progress” had been achieved in recent trade negotiations between the U.S. and China. The discussions took place over the weekend in Geneva, Switzerland, and included U.S. Treasury Secretary Scott Bessent and a Chinese delegation. Trump described the talks as productive and characterized the emerging agreement as a “total reset” conducted in a cooperative spirit, although no major breakthroughs were officially declared.
Geneva Talks Last Over Ten Hours Amid Escalating Tariffs and Trade Tensions
According to The Associated Press, the Geneva meeting extended over 10 hours without any major resolution but with plans to resume negotiations the following day. Despite the lack of a formal agreement, both sides reportedly discussed various issues and reached consensus on several fronts. The presence of key officials like Secretary Bessent highlighted the seriousness of the talks, especially in light of ongoing economic tensions between the two countries.
Trump Hails ‘Total Reset’ as U.S.–China Trade Talks Resume in Geneva Amid Soaring Tariffs and Job FearsThe trade conflict intensified earlier when the U.S. imposed a significant 145% tariff on Chinese goods following an initial round of duties announced in early April. In retaliation, China lifted tariffs on goods from other countries while increasing tariffs on American imports to 125%. These moves underscored the aggressive stance both sides have taken in protecting their economic interests during the prolonged trade standoff.
Tariffs Used to Pressure China Amid Trade Imbalance and Job Loss Concerns
Trump reiterated his belief in tariffs as a tool to balance the massive $1.2 trillion trade deficit and revive American manufacturing. He claimed that China was highly motivated to strike a deal, especially considering the potential economic impact of U.S. tariffs. Trump maintained that the U.S. held the upper hand due to the imbalance in trade volumes, suggesting that China’s economy would be more vulnerable to sustained tariffs.
Treasury Secretary Bessent emphasized the potential consequences of the trade war on China, estimating that the tariffs could cost China up to 10 million jobs. Even if duties were reduced, China might still lose up to 5 million jobs, according to his projections. The U.S. delegation framed this pressure as a strategic advantage, hinting that China would eventually have to ease its own tariffs. As negotiations continue, both countries appear to be moving cautiously toward a resolution with high economic stakes on both sides.
