President Donald Trump has reportedly now indicated a willingness to reduce tariffs on Chinese goods to 80% ahead of significant trade talks scheduled in Switzerland.
This proposed rate would mark a substantial decrease from the current 145% tariffs imposed on many Chinese imports.
However, the 80% level may still be viewed as a deterrent to trade, particularly compared to the 10% baseline tariff established in a recent U.S.-U.K. trade agreement.
In a post on Truth Social, Trump remarked, “80% Tariff on China seems right! Up to Scott B.” This reference is directed at Treasury Secretary Scott Bessent, who is among U.S. officials set to meet with Chinese counterparts this weekend.
The outcome of these discussions is not expected to yield a comprehensive trade deal, but rather aims to establish a foundation for future negotiations.
Trump’s comments signal a potential shift in his approach to tariffs, especially considering his earlier insistence that he would not lower tariffs to entice China to the negotiating table. The ongoing tensions between the U.S. and China have led to both countries imposing tariffs exceeding 100% on various goods.
China remains a critical trading partner for the U.S.; in 2024, the U.S. exported $143.5 billion in goods to China while importing $438.9 billion.
As shipping data reveals a significant drop in goods moving from China to the U.S., concerns about potential price increases and shortages are growing.
In another Truth Social post, Trump urged China to open its markets, claiming that doing so would benefit both nations.
As the trade talks approach, the global trading environment remains closely monitored, with investors and business leaders eager to see how negotiations unfold.
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