“Great progress” was made in trade negotiations with China, President Donald Trump said on Saturday evening, as he touted a “total reset” in the making.
Trump made the announcement as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese officials in Switzerland over the weekend.
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump said on Truth Social. “We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”
While many countries received a 90-day reprieve for “Liberation Day” tariffs above the baseline rate of 10% last month, the United States increased the overall penalty on Chinese goods to 145%. Beijing responded by raising tariffs on U.S. goods to 125%. The economies in the United States and China have been roiled as a result of the trade war.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a Truth Social post on Friday.
China’s President Xi Jinping sent a delegation led by Vice Premier He Lifeng.
The Wall Street Journal reported that the group includes Minister of Public Security Wang Xiaohong, who is considered “the point person in Beijing’s recent discussions with Washington over how to address President Trump’s concerns about China’s role in the fentanyl trade.”
Trump administration officials have been negotiating on trade with a host of nations over the past several weeks and have signaled progress in talks with the likes of India, South Korea, and Japan.
Last week, the White House unveiled a trade deal framework with the United Kingdom that aims to slash tariffs and non-tariff barriers to unlock $5 billion in new export opportunities for U.S. farmers and businesses, while retaining a 10% Liberation Day tariff base rate and imposing “alternative” arrangements for British auto and steel imports to “bolster” economic and national security.
“Both countries have agreed that economic security is national security and will be working together as allies to ensure that we have a strong industrial base and appropriate export controls and protections for key technologies and industries like steel,” Trump said. “Steel was a big factor. Both countries will become stronger with steel.”
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[[{“value”:”
“Great progress” was made in trade negotiations with China, President Donald Trump said on Saturday evening, as he touted a “total reset” in the making.
Trump made the announcement as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese officials in Switzerland over the weekend.
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump said on Truth Social. “We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”
While many countries received a 90-day reprieve for “Liberation Day” tariffs above the baseline rate of 10% last month, the United States increased the overall penalty on Chinese goods to 145%. Beijing responded by raising tariffs on U.S. goods to 125%. The economies in the United States and China have been roiled as a result of the trade war.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a Truth Social post on Friday.
China’s President Xi Jinping sent a delegation led by Vice Premier He Lifeng.
The Wall Street Journal reported that the group includes Minister of Public Security Wang Xiaohong, who is considered “the point person in Beijing’s recent discussions with Washington over how to address President Trump’s concerns about China’s role in the fentanyl trade.”
Trump administration officials have been negotiating on trade with a host of nations over the past several weeks and have signaled progress in talks with the likes of India, South Korea, and Japan.
Last week, the White House unveiled a trade deal framework with the United Kingdom that aims to slash tariffs and non-tariff barriers to unlock $5 billion in new export opportunities for U.S. farmers and businesses, while retaining a 10% Liberation Day tariff base rate and imposing “alternative” arrangements for British auto and steel imports to “bolster” economic and national security.
“Both countries have agreed that economic security is national security and will be working together as allies to ensure that we have a strong industrial base and appropriate export controls and protections for key technologies and industries like steel,” Trump said. “Steel was a big factor. Both countries will become stronger with steel.”
“}]]
