PNN – The US President announced an 80% tariff on Chinese goods ahead of Saturday’s talks between the US Treasury and Chinese officials.
According to the report of Pakistan News Network, on the CNBC website, US President Donald Trump announced on Friday, on the eve of important trade negotiations, in a message on the “Truth Social” messenger, that he is willing to reduce Chinese tariffs by 80%.
CNBC, however, considered this tariff level high for Chinese goods and wrote: The tariff may still be higher than investors and business leaders expected.
Trump wrote in his message: An 80% tariff on China looks good! The final decision is with Scott Basnet.
US Treasury Secretary Scott Besant is scheduled to hold talks with his Chinese counterparts during a visit to Switzerland.
The 80% tariff is a significant reduction from the current 145% rate on many Chinese goods, but it could still restrict trade between Washington and Beijing. It is much higher than the base tariff of 10% in the US-UK trade deal announced on Thursday.
CNBC wrote: It is unclear whether Trump intends this rate for the long term or considers it a negotiating phase.
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Trump wrote in another post: Many trade deals are coming. All are better than one.
CNBC stated that China is seen as the main obstacle in Trump’s efforts to change the global trade environment, adding: While his previous tariffs on many major countries were suspended on April 9, tensions between Washington and Beijing escalated to the point where the two countries imposed tariffs of more than 100 percent on each other’s goods.
China is one of the United States’ largest trading partners. In 2024, US exports to China were $143.5 billion and imports from China were $438.9 billion.
In another post on Friday morning, Trump emphasized: China must open its market to the United States. This will benefit them. Closed markets no longer work!
The Swiss talks this weekend are unlikely to lead to a full trade deal, according to the report. US Trade Representative Jamieson Greer said on Thursday that the talks were aimed at creating “stability” as a “foundation for further progress.”
The US Treasury Secretary and the country’s top trade negotiator will meet with Chinese economic official He Lifeng in Switzerland on Saturday for talks that could be a first step toward resolving the trade war that has disrupted the global economy.
New shipping figures show a sharp drop in the volume of goods imported from China to the United States, raising concerns about rising prices or even shortages of some goods in the coming weeks.
Trump’s comments on China tariffs mark a shift in his stance. He said on Wednesday that he would not reduce tariffs to force China to negotiate.