President Donald Trump has recently expressed a potential willingness to substantially reduce the current 145% tariff rate on China as trade talks approaches. In a post on Truth Social, Trump suggested that an 80% tariff on China “seems right,” pointing to Treasury Secretary Scott Bessent, who, along with U.S. Trade Representative Jamieson Greer, is set to engage with Chinese representatives in Geneva. During an Oval Office briefing, Trump hinted that while he might consider lowering the tariff, he emphasized that increasing it further is not feasible.
Historically, Trump’s tariffs on China began with a 20% levy in response to the country’s alleged failure to curb fentanyl trafficking, and later escalated to 125%. Lowering tariffs to 80% would still represent a significant rate compared to pre-Trump levels. Meanwhile, Trump’s broader strategy to manage tariffs remains unchanged. He recently announced negotiations with the UK, although details were sparse. This agreement retains the existing 10% duty rate on imports from all countries while suggesting possibilities to boost U.S. exports of agricultural products, like beef and ethanol, without any confirmed increases in UK imports.
Overall, Trump’s approach to tariffs is marked by volatility and unpredictability, with mixed signals regarding potential reductions while maintaining high rates. As the discussions in Geneva loom, the future of U.S.-China trade relations hangs in the balance, underscored by Trump’s fluctuating stance on tariff adjustments.
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