President Donald Trump celebrated what he described as a major breakthrough in relations with China after the first round of high-level discussions took place in Geneva between American and Chinese officials. The talks were aimed at easing the strain caused by Trump’s recent imposition of sweeping tariffs on Chinese imports.
Calling the meetings “very good,” Trump said they marked “a total reset negotiated in a friendly, but constructive, manner.” In a Truth Social post from late last night, he added, “We want to see, for the good of both China and the U.S., an opening up of China to American business.” He also wrote, “GREAT PROGRESS MADE!!!”
Yesterday, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng. This was the first face-to-face dialogue between representatives of the two economic giants since Trump enacted significant new tariffs on China last month—a move that was met with fierce retaliation from Beijing.
The talks were expected to continue on Sunday, according to someone close to the discussions who spoke anonymously due to the sensitivity of the negotiations.
China’s state-run news agency Xinhua praised the meeting in an editorial, stating, “The contact in Switzerland is an important step in promoting the resolution of the issue.”
The confidential discussions took place at the Geneva residence of the Swiss ambassador to the United Nations—a secluded home with pale blue shutters located beside a park overlooking Lake Geneva.
Since the beginning of the year, Trump has imposed tariffs on Chinese products that now total 145 percent. On some items, the combined US tariff load has reached an astounding 245 percent.
In response, Beijing has levied its own duties on American goods—reaching as high as 125 percent—effectively creating a virtual freeze on bilateral trade.
On Friday, Trump hinted that he might consider adjusting those tariffs, writing online, “80% Tariff on China seems right!”
Commerce Secretary Howard Lutnick told Fox News that Trump is open to reaching a compromise with China. “The president would like to work it out with China,” Lutnick said. “He would like to de-escalate the situation.”
However, White House Press Secretary Karoline Leavitt emphasized that the administration would not make tariff adjustments without reciprocal action from China. She said that China would first need to make meaningful concessions.
Even if changes are made, a reduction to 80 percent would still represent a massive financial hurdle for Chinese exporters, making the gesture more symbolic than practical.
Bessent, for his part, said the meetings in Geneva were not about striking a broad agreement but were intended to create conditions for “de-escalation.”
Meanwhile, Chinese leaders have held firm, insisting that the US must remove tariffs before any deal can be reached. An editorial in Xinhua published early Sunday stated, “Trade wars and tariff battles yield no winners.”
Vice Premier He entered the meetings bolstered by surprising economic news from China—exports had actually risen in the previous month despite the weight of the tariffs. Analysts attributed the increase to the redirection of trade through Southeast Asian countries to avoid US penalties.
This weekend’s dialogue took place just two days after Trump announced a separate trade pact with the United Kingdom. It was the first agreement the US had reached since launching its broad tariff campaign.
That five-page memorandum with Britain, while non-binding, reassured markets that Washington is open to negotiating exemptions in certain sectors—specifically, the deal involved relief for British steel, aluminum, and automobiles.
In exchange, the UK agreed to expand market access for US agricultural exports, including beef and other farm goods.
However, the administration left a 10 percent baseline tariff on most British imports unchanged. Leavitt told the press on Friday that Trump remained “committed” to keeping that rate for other nations as well.
A few hours later, Trump appeared to allow for some wiggle room, saying the baseline could be revisited under certain conditions.
“There could be an exception at some point. We’ll see,” he said. “If somebody did something exceptional for us, that’s always possible.”
{Matzav.com}