President Donald Trump reported 'great progress' following trade negotiations in Geneva with Chinese officials. While no breakthroughs were officially announced, extensive discussions took place, focusing on tariffs and economic relations. Trump emphasized the importance of opening China's market to U.S. businesses, while Treasury Secretary Bessent noted the potential job losses for China due to tariffs. Ongoing negotiations aim for a resolution to the trade deficit, with the expectation that China will ease tariffs, as they face a significant trading imbalance.
"We want to see, for the good of both China and the U.S., an opening up of China to American business," Trump wrote in the post. "GREAT PROGRESS MADE!!!"
"Even if there is a drop in the tariffs, they could lose 5 million jobs," Bessent told White House reporters, highlighting the potential impact of tariffs on Chinese employment.
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