US President Donald Trump has hinted that tariffs on Chinese goods could be lowered to 80% as trade discussions with China approach. He made this known on his Truth Social platform, saying, “80% Tariff on China seems right!” This figure is a reduction from the current 145% rate. Some goods currently face combined duties of up to 245%, a rate that has strained global markets.
Scott Bessent to Lead Talks With China’s He Lifeng
Trump said the final decision on tariffs would be made by Treasury Secretary Scott Bessent, stating, “Up to Scott B.” Bessent is expected to meet with China’s Vice Premier He Lifeng this weekend in Geneva. Their goal is to ease rising tensions between the two economic giants, whose trade war has impacted international trade.
Trump Pushes for Open Markets and British Trade Success
In another post written in capital letters, Trump said, “China should open up its market to USA – would be so good for them!!! Closed markets don’t work anymore!!!” He shared this message just a day after announcing a major trade deal with Britain, calling it historic. Trump believes this deal is the first of many and hopes ongoing negotiations with both China and the European Union will yield positive results.
Trump’s Tariff Strategy Still Unclear
While Trump’s statements show a possible shift in tariff strategy, he has not confirmed if 80% is the final figure or a temporary option. Several nations are working to avoid the steep tariffs imposed by Trump’s administration. His moves are closely watched as they could reshape the global economic landscape.
