US President Donald Trump has signaled a potential reduction in tariffs on Chinese imports from 145% to 80% ahead of high-level trade talks between the two nations. The talks, scheduled for this weekend in Switzerland, will involve US Treasury Secretary Scott Bessent and China’s economic tsar He Lifeng.
Trump expressed optimism about the talks, stating that China has “a lot to gain” from a potential trade deal. He also mentioned that he would like to see China open up its economy, citing a “tremendous trade surplus” with the United States.
The potential tariff reduction has sparked interest in the markets. Trump’s comments represent the latest sign of a softening tone between the world’s two biggest economies, which have been locked in a standoff over tariffs and trade.
The trade negotiations aim to ease tensions between the two economies, which have been impacted by the ongoing trade war. Trump has been working on multiple trade deals after pausing reciprocal tariffs for most nations to ease a trade war that upended financial markets and US relationships with friends and foes.
Some reports suggest the US is considering cutting tariffs to between 50% and 54%, but the White House calls this speculation. The upcoming talks are seen as a first step toward resolving the trade war disrupting the global economy
