As the rival superpowers prepare for trade talks over the weekend, US President Donald Trump made a signal on Friday ( May 9 ) that he could lower tariffs on Chinese imports.
“80 % Tariff on China seems appropriate”! Trump proposed a reduction in the percentages from 145 % to 245 %, with cumulative duties on some goods reaching a staggering 245 %, according to a statement Trump wrote on his Truth Social platform.
He added that it was” Up to Scott B.” and made reference to US Treasury Secretary Scott Bessent, who may hold a meeting with China’s Vice Premier He Lifeng over the weekend in Geneva to discuss how the issue is affecting the world’s industry.
Trump did not specify in his article whether he believed 80 % should be the last, clear stage for tariffs on Chinese goods if and when the trade conflict ends, or whether it should be an interval status.
Trump said in a different article that was written in money letters,” China may open up its market to the USA- would be so great for them!!!” Closed businesses no longer function! “!
Trump made the comments the day after he revealed what he called a landmark trade deal with Britain, which is the first one to come into force since he unleashed a wave of unprecedented tariffs against allies next month.
Trump stated that the American package may be the first of many and that he hoped fruitful outcomes from long-difficult discussions with China and the EU.
Numerous nations have lined up to discuss averting Trump’s worst responsibilities, which range from 10 % for many to the sky high kinds on China, which is Trump’s main goal.