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Trump Announces 'Great Progress' in U.S.-China Trade Talks in Switzerland, Aiming for Tariff Reset

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Published May 12, 2025, 08:02 PM

The United States and China have concluded two days of trade negotiations in Switzerland, which U.S. President Donald Trump described as achieving 'great progress' and a 'total reset' of the tariff regime. The discussions aim to resolve the ongoing trade dispute that has disrupted global markets.

U.S. negotiator Jamieson Greer stated that the meetings were 'very productive,' indicating a potential for quick resolution. U.S. Treasury Secretary Scott Bessent mentioned that more details would be released on Monday. However, no official comments were made by the Chinese side. Trump expressed optimism about opening China to American businesses for the benefit of both nations, with comments from Commerce Secretary Howard Lutnick and National Economic Council Director Kevin Hassett supporting a reset in trade relations.

The negotiations took place at the Swiss ambassador's residence near the United Nations. The tariff conflict has led to significant disruptions, including ships loaded with Chinese goods being stuck in ports. Both countries have imposed high tariffs, with the U.S. at 145% and China at 125%, effectively amounting to a mutual boycott of products. Jake Werner from the Quincy Institute noted the necessity of these negotiations to ease the U.S.-China trade war.

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#United States #China #Switzerland #Donald Trump #Jamieson Greer #Scott Bessent #Chinese #Trump #American #Commerce #Howard Lutnick #National Economic Council #Kevin Hassett #Swiss #United Nations #Jake Werner #Quincy Institute

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Sources

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