US mulls cutting China tariffs to 50%, reports say
The 145% tariff on Chinese imports may be reduced as negotiations for a trade agreement are currently underway, according to reports. The Trump administration is contemplating a plan to lower the significant tariffs that were previously imposed...
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The 145% tariff on Chinese imports may be reduced as negotiations for a trade agreement are currently underway, according to reports.
The Trump administration is contemplating a plan to lower the significant tariffs that were previously imposed on Chinese goods, as reported by the New York Post on Thursday, citing sources familiar with the situation. This reduction might go into effect as soon as next week and will apply during the ongoing discussions between Beijing and Washington.
Senior officials from both China and the US are scheduled to meet on Saturday in Geneva, Switzerland, to engage in negotiations aimed at easing the tensions that have led to a de facto mutual trade embargo between the two economic powerhouses.
According to the New York Post, the sweeping 145% tariff on Chinese imports could be decreased to between 50% and 54%, as indicated by sources close to the negotiations. Additionally, tariffs on neighboring South Asian countries might be lowered to 25%, according to one source cited by the tabloid.
In response to the reported potential reduction, White House spokesman Kush Desai remarked that decisions regarding tariffs would come directly from the president, noting that “anything else is just pure speculation.”
Relations between Washington and Beijing have soured due to Trump’s implementation of the highest tariffs ever on Chinese exports to the US. The president has justified this measure by citing national security and concerns about the trade imbalance. In retaliation, Chinese authorities have claimed that the US is engaging in “economic bullying," imposing 125% tariffs on all US imports along with export controls.
Earlier this week, the Commerce Ministry of China confirmed that Vice Premier He Lifeng will meet with US Treasury Secretary Scott Bessent for discussions about economic and trade matters during his visit to Switzerland this weekend.
On Thursday, President Trump expressed optimism regarding the possibility of the two nations resolving their differences and reaching a deal that would be mutually beneficial.
Thomas Evans for TROIB News
The Trump administration is contemplating a plan to lower the significant tariffs that were previously imposed on Chinese goods, as reported by the New York Post on Thursday, citing sources familiar with the situation. This reduction might go into effect as soon as next week and will apply during the ongoing discussions between Beijing and Washington.
Senior officials from both China and the US are scheduled to meet on Saturday in Geneva, Switzerland, to engage in negotiations aimed at easing the tensions that have led to a de facto mutual trade embargo between the two economic powerhouses.
According to the New York Post, the sweeping 145% tariff on Chinese imports could be decreased to between 50% and 54%, as indicated by sources close to the negotiations. Additionally, tariffs on neighboring South Asian countries might be lowered to 25%, according to one source cited by the tabloid.
In response to the reported potential reduction, White House spokesman Kush Desai remarked that decisions regarding tariffs would come directly from the president, noting that “anything else is just pure speculation.”
Relations between Washington and Beijing have soured due to Trump’s implementation of the highest tariffs ever on Chinese exports to the US. The president has justified this measure by citing national security and concerns about the trade imbalance. In retaliation, Chinese authorities have claimed that the US is engaging in “economic bullying," imposing 125% tariffs on all US imports along with export controls.
Earlier this week, the Commerce Ministry of China confirmed that Vice Premier He Lifeng will meet with US Treasury Secretary Scott Bessent for discussions about economic and trade matters during his visit to Switzerland this weekend.
On Thursday, President Trump expressed optimism regarding the possibility of the two nations resolving their differences and reaching a deal that would be mutually beneficial.
Thomas Evans for TROIB News
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