Trump Eases Up on China, Says Lowering Tariffs to 80 Percent ‘Seems Right’

Ahead of the first high-level talks between America and China on trade, President Trump now indicates he supports a big cut in the tariff rate.“80% Tariff on China seems right! up to Scott B,” Mr. Trump posted to his Truth Social account on Friday morning, referring to the Treasury secretary, Scott Bessent, who is set to meet with officials of Communist China in Switzerland this weekend for the trade talks. The U.S. trade representative, Jamieson Greer, will also take part.Chinese imports into America are facing a 145 percent tariff after both sides have been upping levies in a tit-for-tat battle. American goods entering China are facing a tariff of 125 percent.Mr. Trump announced tariffs on many countries around the world as part of “Liberation Day” on April 2. China, the world’s largest exporter, has been hit hard. Some factories have been closing and unemployment is rising. The Chinese government has called America’s tariffs “bullying” tactics.The president has said that America is going “cold turkey” on doing business with China, and that has resulted in a reduction in the trade deficit by as much as $5 billion a day.The number of ships carrying goods to America has plummeted since the tariffs were announced. In the Oval Office on Thursday, Mr. Trump called that a positive development. “That means we lose less money … that’s a good thing, not a bad thing,” Mr. Trump said.The Chinese commerce ministry says it decided to agree to talks after evaluating information provided by the American side, the Associated Press reported. But a spokesman said China would not “sacrifice its principles or global equity or justice in seeking any agreement.”“The world has been coming to the U.S. and China has been the missing piece,” Mr. Bessent said on Fox News after the weekend talks were announced. “Look, we have shared interests. This isn’t sustainable.”The talks with China come after Mr. Trump announced a trade deal with the United Kingdom. The specifics are still being worked out, but the administration says it will leave in place the 10 percent minimum tariff imposed on U.K. goods last month and the deal will include billions of dollars’ worth of increased market access for American exports.

Trump Eases Up on China, Says Lowering Tariffs to 80 Percent ‘Seems Right’

Trump Eases Up on China, Says Lowering Tariffs to 80 Percent ‘Seems Right’

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