Trump touts 'great progress' in trade negotiation with China
President Donald Trump has taken a hard line on China since returning to office and imposed a series of tough new tariff measures.
However, Trump suggested this past weekend that "a total" resent between America and China's government could be in the works.
Trump touts "great progress made" in negotiations"
According to Breitbart, the president made his thoughts known via a Truth Social post which he put up on Saturday evening.
"We want to see, for the good of both China and the U.S., an opening up of China to American business," Trump declared before adding, "GREAT PROGRESS MADE!!!"
Trump was referring to negotiations being held between the U.S. and China in Geneva, Switzerland over a new trade agreement.
Fox Business reported on Monday that the meeting resulted in a 90-day window during which the U.S. will reduce its tariff on Chinese goods by 24 percentage points.
For its part, China agreed to similarly lower its tariffs as well as "adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2."
Commerce secretary: "The president would like to work it out with China"
Commerce Secretary Howard Lutnick had expressed optimism about the negotiations during an interview on Friday evening with Fox News host Laura Ingraham.
"I think the president would like to work it out with China, as he said, he’d like to deescalate it. But look, he’s not going to live with a trillion-dollar deficit," Lutnick stated.
"He’s just not going to do it. So the idea is deescalate, but let’s get China trade right, and let’s get trade deals with the rest of the world," the Commerce secretary continued before adding, "Let's cut our trade deficit down. Let's grow our GDP."
"I think the President can grow our GDP 3 percent, I mean, I think this president’s got it right. He’s got it dead right, and he’s doing everything he’s supposed to be doing," Lutnick asserted.
Trump hailed new trade deal with the United Kingdom
The president's comments regarding a China reset came days after he heralded a new trade agreement with the United Kingdom.
Fox News reported that the agreement he UK deal will keep an existing 10% tariff in place while also lifting import levies on steel, automobiles, and other specific items.
"The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol and virtually all of the products produced by our great farmers," Trump said of the deal.