🎙️ Voice is AI-generated. Inconsistencies may occur.
U.S. President Donald Trump said that an 80 percent tariff on China—lower than the current 145 percent—”seems right,” in a new post on his Truth Social platform.
But he said it was “up to Scott B.,” referring to Treasury Secretary Scott Bessent.
Bessent is due to hold trade talks with China in Switzerland at the weekend.
Trump’s 145 percent tariff on China combines a 125 percent “reciprocal” rate designed to reflect Chinese trade barriers against the U.S., and a 20 percent rate related to China’s role in the fentanyl trade.
“CHINA SHOULD OPEN UP ITS MARKET TO USA—WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” Trump also posted.
The U.S. president has made several comments recently that his tariffs on China would soon come down.
China has accused the U.S. of bullying it on trade, but also said it is open to talks.
Washington and Beijing have exchanged tariffs, export controls, and other countermeasures in a trade war sparked by Trump.
Trump says China has abusive trading practices.
The trade war has spooked global markets, which fear the fallout of a prolonged conflict between the world’s two largest economies.
Several forecasters have already slashed their outlooks for global growth in 2025, largely due to the trade conflicts between the U.S. and its major trading partners, including China, Canada, and the European Union (EU).
This is a breaking news story and more information will be added soon.
Read the full article here
