US President Donald Trump on Friday floated slashing tariffs on China to 80% ahead of a weekend meeting, signaling a possible move to ease tensions in the ongoing trade war.
The proposed 80% duty represents a considerable decrease from the existing 145% tariff imposed on numerous Chinese products.
" 80% Tariff on China seems right! Up to Scott B," Trump posted on Truth Social referring to Treasury Secretary Scott Bessent, who is one of the US officials set to speak with counterparts from China at a meeting in Switzerland.
Bessent had earlier said that the meetings in Switzerland would concentrate on "de-escalation" rather than achieving a comprehensive trade agreement.
Trump's Truth Social announcement followed his previous day's revelation of what he described as a landmark trade deal with Britain, marking the first agreement since implementing extensive global tariffs last month.
Trump indicated that the British agreement would initiate a series of deals, expressing optimism about ongoing challenging negotiations with both the EU and China.
In a separate post Trump said, "China should open up its market to USA — would be so good for them!!! closed markets don't work anymore!!!"
Various nations have sought discussions with Washington to minimise the impact of Trump's duties, which vary from 10 percent for numerous countries to substantially higher rates for China.
China remains one of the United States' biggest trading partners. In 2024, the United States exported $143.5 billion worth of goods to China and imported $438.9 billion, according to the Office of the US Trade Representative.
The proposed 80% duty represents a considerable decrease from the existing 145% tariff imposed on numerous Chinese products.
" 80% Tariff on China seems right! Up to Scott B," Trump posted on Truth Social referring to Treasury Secretary Scott Bessent, who is one of the US officials set to speak with counterparts from China at a meeting in Switzerland.
Bessent had earlier said that the meetings in Switzerland would concentrate on "de-escalation" rather than achieving a comprehensive trade agreement.
Trump's Truth Social announcement followed his previous day's revelation of what he described as a landmark trade deal with Britain, marking the first agreement since implementing extensive global tariffs last month.
Trump indicated that the British agreement would initiate a series of deals, expressing optimism about ongoing challenging negotiations with both the EU and China.
In a separate post Trump said, "China should open up its market to USA — would be so good for them!!! closed markets don't work anymore!!!"
Various nations have sought discussions with Washington to minimise the impact of Trump's duties, which vary from 10 percent for numerous countries to substantially higher rates for China.
China remains one of the United States' biggest trading partners. In 2024, the United States exported $143.5 billion worth of goods to China and imported $438.9 billion, according to the Office of the US Trade Representative.
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