US President Donald Trump has declared a "total reset" with China, following his tariff war with the nation.In a national press conference, Trump announced: "We achieved a total reset with China after productive talks in Geneva. "Both sides now agree to reduce the tariffs imposed after April 2nd to 10 per cent for 90 days, as negotiations continue on the larger structural issues."WATCH ABOVE.
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00:00In addition, yesterday we achieved a total reset with China after productive talks in
00:07Geneva.
00:09Both sides now agree to reduce the tariffs imposed after April 2nd to 10% for 90 days
00:16as negotiators continue in the larger structural issues.
00:21And I want to tell you that a couple of things, first of all, that doesn't include the tariffs
00:26that are already on, that are our tariffs, and it doesn't include tariffs on cars, steel,
00:32aluminum, things such as that, or tariffs that may be imposed on pharmaceuticals because
00:38we want to bring the pharmaceutical businesses back to the United States, and they're already
00:43starting to come back now based on tariffs because they don't want to pay 25, 50, or
00:48100% tariffs, so they're moving them back to the United States.
00:52I spoke to Tim Cook this morning, and he's going to, I think, even up his numbers, $500
01:00billion.
01:01He's going to be building a lot of plants in the United States for Apple, and we look forward
01:07to that.
01:08I really do look forward to that.
01:11But the talks in Geneva were very friendly.
01:15The relationship is very good.
01:18We're not looking to hurt China.
01:19China was being hurt very badly.
01:21They were closing up factories.
01:23They were having a lot of unrest, and they were very happy to be able to do something
01:28with us.
01:30And the relationship is very, very good.
01:32I'll speak to President Xi maybe at the end of the week.
01:36We have some other things we're doing.
01:38But one of the biggest things that we're doing, and I don't know if people realize this, but
01:45we made a great deal with China, a great trade deal.
01:49But it was a much bigger deal originally, and then they canceled it right in the last day.
01:54Some of you faces, I remember, were there when that happened.
01:57And I remember you, and we had a deal where they opened up their country to trade with the United
02:03States.