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CNN: Trump, in a major concession, says the tariff on China should be 80% -- but will leave it up to Bessent [View all]
CNN - Trump, in a major concession, says the tariff on China should be 80% — but will leave it up to Bessent
By David Goldman and Alayna Treene, CNN
Updated 8:20 AM EDT, Fri May 9, 2025
President Donald Trump on Friday set negotiating terms for his administration’s first discussions with China, which are set to take place in Geneva this weekend.
In a series of posts on Truth Social, Trump appeared to lay out his demands — and concessions — for the meeting between US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and their Chinese counterparts. Trump said China must import more US goods, and in return, he believes the United States should lower its 145% tariff on most Chinese goods to 80%.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!,” Trump posted.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a separate post.
The concession would be a dramatic break from the present reality, which has sent shipments from China into the United States plunging by 60%, according to Ryan Petersen, CEO of Flexport, a logistics and freight forwarding broker.
/snip
By David Goldman and Alayna Treene, CNN
Updated 8:20 AM EDT, Fri May 9, 2025
President Donald Trump on Friday set negotiating terms for his administration’s first discussions with China, which are set to take place in Geneva this weekend.
In a series of posts on Truth Social, Trump appeared to lay out his demands — and concessions — for the meeting between US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and their Chinese counterparts. Trump said China must import more US goods, and in return, he believes the United States should lower its 145% tariff on most Chinese goods to 80%.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!,” Trump posted.
“80% Tariff on China seems right! Up to Scott B,” Trump said in a separate post.
The concession would be a dramatic break from the present reality, which has sent shipments from China into the United States plunging by 60%, according to Ryan Petersen, CEO of Flexport, a logistics and freight forwarding broker.
/snip
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