Donald Trump has hinted at a potential softening in his trade war with China, suggesting that an 80% tariff on Chinese goods “seems right”—a marked shift from previous threats of levies as high as 145%.
The apparent change in tone comes ahead of crucial talks this weekend in Switzerland, where US Treasury Secretary Scott Bessent is expected to meet with senior Chinese officials.
Posting on his Truth Social site, the US president says:
Scott B is presumably Treasury secretary Bessent, who is due to meet with officials from China in Switzerland this weekend to discuss the trade war.
An 80% tariff would be a notable reduction on the 145% which Trump has imposed last month, but would still make it significantly more expensive for US companies to import goods from China.
Trump has also urged Beijing to open up its markets, posting:
The US-China trade war has escalated sharply in recent months, with both countries ramping up import duties in a tit-for-tat exchange. China’s retaliatory tariffs now stand at 125%, effectively stalling most bilateral trade.
While China’s exports to the US fell by more than 20% year-on-year in April, the country saw an overall 8% rise in global exports, thanks to increased demand from Europe and the rest of Asia.
Despite this weekend’s diplomatic engagement, few analysts expect an imminent breakthrough. “Given the wide gap in views between the US and China, it will likely be a long and bumpy process for them to reach a meaningful and lasting trade deal,” said Xiangrong Yu, an economist at Citi.
