Trump Claims Progress in Trade Talks with China

President Donald Trump shared on Truth Social Saturday that “great progress” was made during trade discussions that took place over the weekend. He mentioned that various topics were covered between US officials, including Treasury Secretary Scott Bescent, and a Chinese delegation during their meeting in Geneva, Switzerland, though he didn’t go into specifics. “I agreed,” Trump added.

The Associated Press noted that while negotiations were set to continue on Sunday, no significant breakthroughs were reported.

In early April, the administration had implemented tariffs, which included a steep 145% tariff on Chinese goods. In response, China raised its tariffs on US imports to 125% after reducing tariffs on other countries to a baseline of 10% for a temporary 90-day period.

During a press conference at the White House, Trump, who has long been a proponent of tariffs, expressed a desire to finalize numerous deals and end a contentious tariff dispute. Although he offered few details during his Saturday evening announcement, he characterized the agreement as a “complete reset negotiated in a friendly yet constructive way.”

Trump emphasized the aim of fostering better access for American businesses in China, stating, “We want to see the opening from China to American businesses for the benefit of both China and the US. Great progress!!!”

Bescent previously indicated that tariffs could potentially cost China millions of jobs, suggesting that the situation could become unsustainable for them. He highlighted the imbalance in trade, noting that the US imports significantly more from China than it exports.