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Donald Trump has said an 80 per cent tariff on Chinese imports “seems right” because the US president stakes out a position ahead of talks between Washington and Beijing this weekend.
Trump posted on his Truth Social platform on Friday: “80% Tariff on China seems right! As much as Scott B” — a reference to a gathering resulting from start on Saturday in Geneva between US representatives led by Treasury secretary Scott Bessent and Chinese officials.
Trump also posted: “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”
Washington and Beijing have been locked in an escalating trade war since Trump launched steep tariffs on all major trading partners in early April, rattling the worldwide economy.
Many US allies selected to try to negotiate with the Trump administration quite than hit back with their very own tariffs. Nevertheless, Beijing retaliated with levies on US goods, prompting Trump to ratchet up tariffs on China to 145 per cent.
Speaking from the Oval Office on Thursday, Trump suggested the US was open to lowering its tariffs on Chinese goods following the meeting between US and Chinese officials in Switzerland this weekend.
Earlier reports had indicated that the Trump administration was aiming to chop tariffs below 60 per cent.
People aware of the matter said the figures Trump floated in his Truth Social post were probably a negotiating tactic ahead of Saturday’s talks quite than an actual goal.
Trump’s comments on the US-China trade war in recent months have repeatedly proved unreliable, including claims that he spoke to China’s President Xi Jinping since imposing tariffs — which individuals aware of the situation said was not the case.
Bessent said earlier this week that his meeting along with his Chinese counterpart He Lifeng was not intended to barter an enormous deal but was an effort to de-escalate the trade war. Bessent has said that the present high level of tariffs that the US and China have imposed on one another were “not sustainable”.
The meeting with Chinese officials comes just days after the US struck a limited trade take care of the UK. The US has been locked in negotiations with multiple countries for the past month, since Trump paused his tariffs for 90 days on most trading partners.
On Friday, Trump wrote on social media that there have been “Many Trade Deals within the hopper, all good (GREAT!) ones!”
Privately, nonetheless, many foreign officials have indicated that talks with the US look like progressing slowly, with US officials unable to articulate specific demands.
The US’s take care of the UK left Trump’s 10 per cent baseline tariff in force, although the UK might be allowed to export 100,000 cars to the US free from Trump’s extra 25 per cent tariff on auto imports.
Despite the US’s steep tariffs on China, data on Friday showed that China’s exports grew sharply in April, strengthening Beijing’s hand ahead of the talks.
The strong performance got here as Chinese corporations diverted trade flows to south-east Asia, Europe and other destinations following the imposition of the tit-for-tat tariffs. Exports rose 8.1 per cent in dollar terms compared with a yr earlier, China’s customs said.
