Hints at Tariff Reduction Ahead of Trade Talks
President Donald Trump of the United States has stated that he may lower tariffs on Chinese goods to around 80% ahead of official trade negotiations with China.
On the morning of May 9 (local time), President Trump wrote on the social media platform Truth Social, "Tariffs on China at 80% seems right!" He also mentioned Treasury Secretary Scott Besant, saying, "It's up to Scott B."
Just before posting this on Truth Social, President Trump said, "China must open its markets to the United States. This would be very good for China," and added, "Closed markets no longer work."
Since taking office in January, President Trump has repeatedly raised tariffs on Chinese goods, imposing a total tariff rate of 145%. In response, China is imposing retaliatory tariffs of 125%.
The previous day, some U.S. media outlets reported that President Trump was discussing a proposal to significantly lower tariffs on Chinese goods.
The United States and China are scheduled to hold their first official trade and economic dialogue in Switzerland on May 10-11. Treasury Secretary Besant will represent the United States, while Vice Premier He Lifeng of the State Council will represent China.
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