Trump praises 'friendly, constructive' US-China trade talks

In a recent update on the ongoing trade discussions between the United States and China, President Donald Trump expressed optimism about the progress made during the initial day of talks held in Switzerland. He referred to the discussions as a 'total reset' in the trade relationship between the two nations. In a post on social media, Trump described the talks as 'very good' and highlighted that the negotiations were conducted in a 'friendly, but constructive, manner. ' This is particularly significant given the backdrop of a trade war that has escalated tensions between Washington and Beijing, with the US imposing tariffs of 145% on various Chinese imports, while China retaliated with tariffs of 125% on certain American products. After months of back-and-forth exchanges, the two countries are convening in Geneva for their first face-to-face meeting since the US initiated these tariffs at the beginning of the year. While specific details from the talks remain scarce, they are set to continue on Sunday, involving discussions between China's Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent. Trump emphasized the importance of opening up China to American businesses, stating, 'GREAT PROGRESS MADE! ' However, White House Press Secretary Karoline Leavitt clarified that the US would not unilaterally reduce tariffs, indicating that China would need to make concessions as well. Both parties have issued warnings leading up to the meeting, with Beijing insisting that the US must ease its tariffs, while Bessent underscored that the focus of the discussions is on 'de-escalation' rather than a comprehensive trade agreement. Chinese state media reported that Beijing's decision to engage with the US was made after careful consideration of global expectations, national interests, and appeals from American businesses. For instance, last month, Sorbo Technology, a company that typically sells half of its products to the US, reported that its goods are currently sitting in a warehouse in China due to the trade restrictions. Meanwhile, the US economy has shown signs of contraction, shrinking at an annual rate of 0. 3% in the first quarter of the year as businesses rushed to import goods. The trade conflict intensified last month when President Trump announced a universal baseline tariff on all imports to the United States, which he referred to as 'Liberation Day. ' This move affected around 60 trading partners, labeled by the White House as the 'worst offenders,' including China and the European Union. Trump justified these tariffs as a response to years of perceived unfair trade practices against the US. Additionally, he announced a 25% import tax on all steel and aluminum entering the country, along with a similar 25% tariff on cars and car parts. Recently, it was revealed that the tax on UK cars would be reduced from 25% to 10% for a maximum of 100,000 vehicles, aligning with the number of cars the UK exported to the US last year. Cars represent the UK's largest export to the US, valued at approximately £9 billion in the previous year.