US President Donald Trump announced his readiness to reduce tariffs against China by up to 80% ahead of the start of trade talks between the countries. About this informs Reuters.
“80% tariff against China seems justified! Scott B decides.”, Trump said in Truth Social, referring to US Treasury Secretary Bessent.
In another post, Trump called on China to open its market to American products, stressing that it “would be so good for them.”
“Closed Markets Don’t Work Anymore”, – he added, despite the fact that earlier it was his administration that initiated the introduction of high tariffs against China.
On May 10, trade negotiations between the US and Chinese delegations will begin in Switzerland. The American side will be represented by Finance Minister Bessent, and the Chinese side by Vice Premier He Lifeng. It is the first official meeting between the world’s two largest economies since the standoff began in which the Trump administration imposed tariffs of 145 percent on Chinese goods and China responded with retaliatory tariffs of 125 percent on many American goods.
We will remind that in April 2025, Trump announced the introduction of “reciprocal” tariffs in the range from 10% to 50%. After receiving requests for negotiations from more than 75 countries, the US decided to temporarily suspend these tariffs for 90 days, leaving most countries with a 10% tariff. At the same time, the “reciprocal” tariff rate for China remained at 125%, which together with previously introduced tariffs amounts to 145%.
