US-China Trade Talks Yield 'Total Reset' Claim

US and Chinese officials held sensitive talks in Switzerland over tariffs that threaten the global economy, with Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng meeting for over 10 hours. President Trump said on social media that "great progress" was made and a "total reset" was negotiated. The talks, shrouded in secrecy, aimed to de-escalate trade tensions between the two economies. Initial discussions were likely about de-escalation, not a comprehensive trade deal. The US and China have imposed high tariffs on each other's goods, disrupting $660 billion in trade. Both sides have expressed openness to negotiations, but China wants the US to drop its "unilateral" tariffs first.

Top US and Chinese economic officials met in Geneva for the second day of high-stakes trade talks aimed at easing tensions from President Trump's trade war, with major implications for the global economy. The US imposed a 145% tariff on Chinese imports, while China retaliated with a 125% import tax on American products, disrupting global supply chains and prompting economists to warn of slowed global growth and potential recession. After seven hours of talks on Saturday, the US released no formal statement, but Trump hailed the initial conversations as a "success" and suggested he might lower tariffs to 80% if China makes concessions. Economists remain skeptical of a quick deal.

US President Donald Trump claimed a "total reset" in US-China trade relations after talks between top US and Chinese officials in Geneva made "great progress". Trump praised the discussions as "very good" and "friendly, but constructive", but did not elaborate on the progress made. The talks, which lasted around 8 hours, were aimed at de-escalating tensions and reducing tariffs imposed by both countries, currently standing at 145% on Chinese goods and 125% on US goods. Economic analysts have low expectations of a breakthrough, and neither side made any statements about the substance of the discussions.