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Showing Original Post only (View all)Trump suggests cutting China tariff rate to still-high 80% ahead of Switzerland talks [View all]
Source: CNBC
Published Fri, May 9 2025 7:35 AM EDT Updated 12 Min Ago
President Donald Trump indicated Friday ahead of key trade talks that he was willing to lower tariffs on China to 80%, but that level may still be higher than what investors and business leaders were hoping for. “80% Tariff on China seems right! Up to Scott B,” Trump said in a Truth Social post. Treasury Secretary Scott Bessent is one of the U.S. officials set to speak with counterparts from China at meetings in Switzerland this weekend.
An 80% levy would be a significant reduction from the 145% tariff currently facing many Chinese goods. However, that number could still be seen as prohibitive to trade. It is also much higher than the 10% baseline tariff in the U.S.-U.K. trade agreement that was announced Thursday.
It is unclear whether Trump wants the 80% rate to be the long-term tariff for China, or whether it should be viewed as a step in negotiations. In a separate post, Trump said “Many Trade Deals in the hopper, all good (GREAT!) ones!”
China is seen as the key hurdle in Trump’s effort to shake up the global trading environment. While many other major countries saw his previously announced tariffs partially paused on April 9, tensions rose between the White House and Beijing until both countries had imposed a tariff of more than 100% on goods.
Read more: https://www.cnbc.com/2025/05/09/trump-china-tariffs-trade-talks.html
Article updated.
Previous article/headlines -
Published Fri, May 9 2025 7:35 AM EDT Updated 6 Min Ago
President Donald Trump said in a social media post Friday that an 80% tariff on Chinese goods "seems right" ahead of key trade talks this weekend. "80% Tariff on China seems right! Up to Scott B," Trump said in a Truth Social post. Treasury Secretary Scott Bessent is one of the U.S. officials set to speak with counterparts from China at a meeting in Switzerland.
An 80% levy would be a sharp reduction from the 145% tariff currently facing many Chinese goods. However, that number could still be seen as prohibitive to trade, and is much higher than the 10% baseline tariff in the U.S.-U.K. trade agreement that was announced Thursday.
It is unclear if Trump wants the 80% rate to be the long-term tariff for China or should be viewed as a step in negotiations.
China is seen as the key hurdle in Trump's effort to shake up the global trading environment. While many other major countries saw the previously announced tariffs partially paused on April 9, tensions rose between the White House and Beijing until both countries had imposed a tariff of more than 100% on goods.
Original article/headline -
Published Fri, May 9 2025 7:35 AM EDT Updated 6 Min Ago
President Donald Trump said in a social media post Friday that an 80% tariff on Chinese goods "seems right" ahead of key trade talks this weekend.
"80% Tariff on China seems right! Up to Scott B," Trump said in a Truth Social post. Treasury Secretary Scott Bessent is one of the U.S. officials set to speak with counterparts from China at a meeting in Switzerland.
An 80% levy would be a sharp reduction from the 145% tariff currently facing many Chinese goods.
China is seen as the key hurdle in Trump's effort to shake up the global trading environment. While many other major countries saw the previously announced tariffs partially paused on April 9, tensions between the White House and Beijing until both countries had imposed a tariff of more than 100% on goods.
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