The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

The United States has reached a preliminary trade deal with China after the two countries met for negotiations in Switzerland over the weekend, the Trump administration announced. The news follows Treasury Secretary Scott Bessent and U.

The US president claims there has been a "total reset" in trade relations following a day of talks between the nations.