The U.S. and China on Sunday resumed crucial tariff talks that have put the global economy on edge, but presented differing views on where the negotiations presently stand.
U.S. President Donald Trump wrote on social media that “great progress” was being made and even suggested a “total reset” was a possibility as the sides took their seats for the second and final scheduled day of discussions in Geneva.
Beijing has yet to comment directly but its official news agency took a tough approach, saying China will “firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”
U.S. Treasury Secretary Scott Bessent, speaking at an event hosted by the Institute of International Finance, says the ‘persistent overreliance’ on the U.S. for consumer demand is creating an ‘evermore unbalanced’ global economy, citing China’s export-heavy economy as an ‘unsustainable’ model.
Trump’s post gave no further details, and White House officials offered little information during and after the opening day of discussions.
Two officials, speaking to The Associated Press on condition of anonymity because of the sensitivity of the matter, confirmed that the talks had resumed on Sunday morning.
Chief political correspondent Rosemary Barton speaks with former U.S. labour secretary Robert Reich about a possible trade deal with China and whether President Donald Trump could pause auto tariffs to give carmakers more time to move to the U.S.
The discussions could help stabilize world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get the final word on tariffs.
The discussions have been shrouded in secrecy, and neither side made comments to reporters as they left Saturday.
