U.S. President Donald Trump on Friday suggested that an 80% tariff on Chinese goods “seems right,” marking his first public mention of a specific rate lower than the 145% levies currently in place. His comment comes ahead of crucial weekend talks aimed at easing trade tensions between the world’s two largest economies. U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet Chinese Vice Premier He Lifeng in Switzerland. The meeting is seen as a potential first step toward resolving the prolonged trade standoff.
“China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore!!!” Trump posted on Truth Social. “80% tariff on China seems right. Up to Scott B,” he added, leaving final judgment to his treasury secretary.Though Trump has recently hinted at plans to lower tariffs, this is the first time he has floated a concrete figure. Following his remarks, U.S. stock futures dipped briefly before rebounding, while the dollar and European markets saw a momentary decline.
Since returning to office in January, Trump has raised tariffs on Chinese imports to 145%, adding to the trade barriers introduced during both his first term and the Biden administration. In retaliation, China has increased tariffs on U.S. goods to 125% and imposed export restrictions on certain rare earth elements, along with added duties on key products like soybeans and liquefied natural gas. Officials in the Trump administration have described the Geneva talks as a possible path to de-escalation.