Total Reset Negotiated: Donald Trump on US & China Trade Talks
In a significant development in the ongoing trade negotiations between the United States and China, US President Donald Trump announced on May 10, 2025, that the talks had gone well, with a “total reset negotiated in a friendly, but constructive manner.” The talks, which took place in Geneva, Switzerland, marked a crucial step towards resolving the long-standing trade tensions between the world’s two largest economies.
The news of the breakthrough came as a relief to both sides, which have been engaged in a trade war since 2018. The conflict has seen the imposition of tariffs on billions of dollars’ worth of goods, causing significant economic losses for both countries. In recent months, there have been signs of a thaw in the relationship, with both sides expressing a desire to reach a deal.
Speaking to reporters in Geneva, Trump hailed the progress made, saying: “Great progress made. A total reset negotiated in a friendly, but constructive manner.” He added that the goal of the talks was to see China open up to American business. “We want to see, for the good of both China and the US, an opening up of China to American business,” Trump said.
The development comes as a significant relief to global markets, which have been watching the trade talks with bated breath. The trade war has had far-reaching consequences, causing uncertainty and instability in the global economy. A resolution to the conflict could potentially boost economic growth and confidence, both in the US and China.
The talks were seen as a crucial step towards resolving the trade tensions, which have been ongoing since 2018. The conflict began when the Trump administration imposed tariffs on billions of dollars’ worth of Chinese goods, citing concerns over intellectual property theft and forced technology transfer. China retaliated by imposing its own tariffs on US goods, leading to a cycle of escalation.
In recent months, there have been signs of a thaw in the relationship, with both sides expressing a desire to reach a deal. In December, Trump and Chinese President Xi Jinping agreed to a temporary truce, postponing the imposition of new tariffs. Since then, there have been several rounds of talks, with both sides making progress on key issues.
The Geneva talks were seen as a key opportunity for the two sides to make a breakthrough. The talks were attended by senior officials from both sides, including US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He. The discussions focused on key issues, including intellectual property, technology transfer, and market access.
In a statement released after the talks, the US Trade Representative’s office said that the two sides had made significant progress on several key issues. “We have made significant progress on a number of important issues, including intellectual property, technology transfer, and market access,” the statement said. “We are committed to continuing our negotiations to reach a comprehensive and balanced agreement.”
The Chinese government also issued a statement, saying that the talks had been “constructive and fruitful.” “The two sides have made significant progress on several key issues, including intellectual property, technology transfer, and market access,” the statement said. “We are committed to continuing our negotiations to reach a comprehensive and balanced agreement.”
The development has been welcomed by business leaders and economists, who have been calling for a resolution to the trade tensions. “A resolution to the trade war would be a significant boost to the global economy,” said Peter Navarro, a trade expert at the University of California, Berkeley. “It would increase economic confidence and stability, and could potentially boost economic growth.”
The news has also been seen as a significant victory for Trump, who has been under pressure to deliver on his campaign promises to reduce the trade deficit and protect American jobs. “This is a major win for President Trump,” said Stephen Moore, a senior fellow at the Heritage Foundation. “He has delivered on his promise to take on China and get a better trade deal for the United States.”
As the two sides continue to negotiate, there is still much work to be done to reach a comprehensive and balanced agreement. However, the progress made in Geneva is a significant step forward, and suggests that a resolution to the trade tensions may be within reach.
Source:
https://www.reuters.com/world/china/china-us-trade-talks-begin-geneva-2025-05-10/
