In a new development ahead of crucial trade negotiations, President Trump has expressed a willingness to significantly cut tariffs on Chinese imports from the current 145 percent to 80 percent. This potential shift is expected as U.S. and Chinese negotiators prepare for high-priority talks in Switzerland over the weekend. Amid ongoing trade tensions that have affected global markets, these upcoming discussions aim to ease disputes and pave the way for a comprehensive trade agreement.
Trump Signals Potential Tariff Cuts in Pre-Trade Talk Strategy
Trump Signals Potential Tariff Cuts in Pre-Trade Talk Strategy
President Trump hints at a significant reduction in tariffs on China as trade discussions loom in Switzerland.
On social media, Trump remarked that an 80 percent tariff "sounds right," leaving the decision open to Treasury Secretary Scott Bessent. Despite a decrease, such tariffs would still present challenges to trade dynamics between the U.S. and China. The Trump administration's attempts to secure trade agreements with various nations have frequently been overshadowed by its ongoing conflict with China.
Earlier this week, the U.S. and Chinese parties confirmed their attendance at meetings in Geneva, which will feature key officials including Bessent, U.S. Trade Representative Jamieson Greer, and China’s vice premier for economic policy, He Lifeng. Bessent has been vocal about the unsustainability of current tariffs and has urged China to engage in dialogue concerning what the U.S. sees as unfair trading practices.
Accompanying these tariff discussions, Trump took to Truth Social to advocate for open market policies, imploring China to grant greater access to American enterprises, stating that “closed markets don’t work anymore.” As the world watches, the outcome of this weekend's talks may significantly impact global trade relations and the economic landscape.
Alan Rappeport is reporting from Washington, focusing on economic policy, trade, and fiscal matters.
Earlier this week, the U.S. and Chinese parties confirmed their attendance at meetings in Geneva, which will feature key officials including Bessent, U.S. Trade Representative Jamieson Greer, and China’s vice premier for economic policy, He Lifeng. Bessent has been vocal about the unsustainability of current tariffs and has urged China to engage in dialogue concerning what the U.S. sees as unfair trading practices.
Accompanying these tariff discussions, Trump took to Truth Social to advocate for open market policies, imploring China to grant greater access to American enterprises, stating that “closed markets don’t work anymore.” As the world watches, the outcome of this weekend's talks may significantly impact global trade relations and the economic landscape.
Alan Rappeport is reporting from Washington, focusing on economic policy, trade, and fiscal matters.
