Trump Says U.S.-China Talks in Switzerland Made Significant Progress on Trade Reset

Trump claims the recent U.S.-China talks in Switzerland have delivered “key progress” toward a renewed trade relationship between the two global powers. The high-level meeting in Geneva comes after months of economic tension, following a damaging tariff war and failed negotiations.U.S. Trade Representative Robert Lighthizer and Treasury Secretary Scott Bessent led the American delegation, while Chinese Vice Premier He Lifeng and Liu He represented Beijing. Both sides described the discussions as productive and marked by a more cooperative tone compared to previous meetings.Geneva meeting brings trade reset amid tariff standoffThe talks took place following a sharp escalation in the trade conflict. In April, Washington imposed 145 percent tariffs on Chinese imports. Beijing responded with 125 percent tariffs on U.S. goods, worsening the economic standoff. Despite this, Trump called the latest meeting a “total reset” of the trade relationship. He said the conversation was firm yet constructive and emphasized that both countries could now move forward with cooperation.The former president, notorious for his hard-line policy toward China, declared on Truth Social the vital significance of access to the Chinese market for U.S. businesses. He said the discussions touched on a broad range of essential issues and led to fruitful agreements by both sides.Trump suggests possible tariff reductionTrump has previously stated that tariffs would remain unless China offered substantial concessions. However, in a recent shift, he signaled a potential compromise, suggesting an 80 percent tariff might be acceptable. Sources close to the talks confirmed that negotiators explored reducing tariffs to between 50 and 60 percent, with some sectors potentially seeing rates drop to 34 percent.The change in approach has inspired an ambivalent positive response in the investment community. Observers anticipate that a trade agreement would cushion industries most hit by the conflict, most particularly agriculture, electronics, and logistics. China exports to the U.S. fell more than 21 percent in April, and with a rise in costs and fewer sales, American farmers and small businesses have been squeezed. More Talks Planned as Core Issues RemainNegotiations are scheduled to continue on Sunday. They will focus on areas such as intellectual property rights, broader market access for U.S. companies, and the regulation of fentanyl exports from China. Officials aim to establish a reliable trade agreement supporting long-term investment and business stability.When news about any progress broke out, bitcoin prices hovered near $104,000, and people who had invested mentioned that increased optimism regarding the direction of the global economy caused the upward surge.The post Trump Says U.S.-China Talks in Switzerland Made Significant Progress on Trade Reset first appeared on Coinfea.