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The first round of the Trump tariffs, which still mimicked traditional trade wars, involved mainly Canada, Mexico and China. The second round began with "reciprocal tariffs," which rely on flawed methodologies and mistaken calculations, covering most trading economies worldwide. Then came the huge U. S. retaliatory tariffs, which China countered.

"We're confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency," Jamieson Greer said.

By Emma Farge and John Revill GENEVA (Reuters) -Talks between U.S. and Chinese officials continued into their second day in Geneva on Sunday, as both sides discussed how to de-escalate the trade war that threatens to inflict major damage on the world economy.

President Trump on Saturday suggested a “total reset” in U.S.-China trade relations amid reported talks over tariffs in Switzerland between the two countries. “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to.

The way President Donald Trump sees it, beating China in a trade war should be easy. After all, the Chinese sell Americans three times as much stuff as Americans sell them.

Trade talks in Geneva between the United States and China have ended for the night but will continue on Sunday, a source familiar with the matter told Reuters.

President Donald Trump touted trade negotiations with China in Switzerland Saturday, noting "many things" were discussed and "much [was] agreed to."

The U.S. treasury secretary and America’s top trade negotiator began talks with high-ranking Chinese officials in Switzerland Saturday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy.

The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.