WASHINGTON — U.S. President Donald Trump signaled a potential softening in the country’s trade stance toward China, suggesting on Friday that tariffs on Chinese imports could be lowered to 80% from the current level of 145%.
The comments came ahead of high-level talks between U.S. and Chinese officials set to take place in Switzerland this weekend.
“80% tariff on China seems right. Up to Scott B,” Trump posted on his Truth Social platform, referring to Treasury Secretary Scott Bessent. He and U.S. trade chief Jamieson Greer are scheduled to meet with China’s economic czar, He Lifeng, in what both sides have described as a “friendly” meeting aimed at easing long-standing trade tensions.
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The proposed tariff reduction marks the first time Trump has publicly floated a specific figure for potential relief since raising the levies to 145% earlier this year. Speaking during an event to unveil a trade deal with the United Kingdom, Trump acknowledged the current rates may have peaked. “You can’t get any higher. It’s at 145%, so we know it’s coming down,” he said.
The announcement of the talks and Trump’s remarks gave financial markets a brief jolt. U.S. stock futures dipped initially following his post but rebounded later in the day. European stocks and the U.S. dollar also weakened temporarily.
China welcomed the talks with cautious optimism. Vice Foreign Minister Hua Chunying said Beijing has “full confidence” in its ability to manage trade relations with the United States. Analysts say both countries are under growing economic pressure and may be looking for an off-ramp from the protracted trade war.
“The recent signals from both sides suggest a transactional de-escalation is on the table,” Dan Wang, an analyst at political risk consultancy Eurasia Group, told the BBC.
Despite the early signs of easing, any significant breakthrough is expected to take time according to most analysts. The Switzerland meeting is seen as an important first step in what many expect will be a drawn-out negotiation process. For now, a small reduction in tariffs may be the most that either side is prepared to offer.