President Donald Trump has confirmed that the United States and China have agreed to a “total reset” in their trade relationship following a high-stakes round of negotiations in Geneva.
The talks, which brought together top-level officials from both countries, aimed to de-escalate the ongoing tariff war that has seen U.S. tariffs on Chinese imports reach 145%, with China responding with 125% tariffs on American goods. Leaders from both sides described the discussions as constructive, signaling a potential shift toward easing trade tensions.
The U.S. delegation, led by Treasury Secretary Scott Bessent, emphasized the need to address the longstanding trade imbalance, particularly the $1.2 trillion deficit, and called for greater market access for American businesses operating in China. Chinese representatives, including Vice Premier He Lifeng, acknowledged the economic strain and signaled readiness for continued collaboration.
While the details of any formal agreements remain under wraps, a joint statement outlining the key outcomes from the Geneva meetings is expected early next week. The move marks a pivotal moment in the evolving economic relationship between the world’s two largest economies, with both sides seeking to restore stability and renewed cooperation.