President Donald Trump said on Friday that imposing 80% tariffs on Chinese products “seems right,” as senior officials from both the U.S. and China gear up for crucial negotiations this weekend in a bid to ease tensions in the ongoing trade war between the two largest global economies.
“China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore!!!” Trump said in a Truth Social post. The announcement comes as the United States reached a trade deal with the United Kingdom on Thursday, making the first major victory for the Trump administration since the President announced sweeping tariffs on all trading partners.
Trump Relaxes China Tariffs Ahead of Trade Talks
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“80% Tariff on China seems right! Up to Scott B,” Trump added, referring to Treasury Secretary Scott Bessent. Trump floated the proposed tariff rate just as Bessent and lead trade negotiator Jamieson Greer were getting ready to meet with Chinese officials in Switzerland for crucial trade talks.
This comes after reports from insiders engaged in the negotiations who told The New York Post on Thursday that the Trump administration was weighing a proposal to slash the existing 145% tariff to as little as 50%.
The trade war has been intensifying ever since Trump introduced his “Liberation Day” tariffs on April 2, triggering retaliatory tariffs from China.
Since then, both countries have continued to increase tariffs, with U.S. tariffs on Chinese imports now at 145%, and China’s tariffs on American goods reaching 125%.
Trump’s comments come a day after he announced that the United States had reached a major trade deal with the United Kingdom, calling it a “very big and exciting day” for the close allies.
He also promised that more trade deals with other nations would soon follow after the global economic upheaval triggered by his ‘Liberation Day’ tariffs.
More Trade Deals on Their Way
Treasury Secretary Scott Bessent revealed last month that the administration had scheduled trade talks with 70 governments aiming to avoid the new tariffs. Besides, countries like Japan, Australia, India, South Korea, Israel, and Vietnam were among the top priorities in Bessent’s initial round of trade negotiations.
The Trump administration also appears to be nearing trade deals with both India and Israel, the New York Times reported. Earlier this week, Trump suggested there was no urgent need for the U.S. to hastily enter into new trade deals.
“Everyone says, ‘When, when, when are you going to sign deals?'” Trump told Canadian Prime Minister Mark Carney during an Oval Office meeting.
“We don’t have to sign deals. We could sign 25 deals right now, Howard, if we wanted to,” the president continued.
In an interview with Laura Ingraham on Fox News’ “Ingraham Angle,” Bessent referred to the president’s seemingly indifferent stance on negotiating new trade deals as a form of “strategic uncertainty” designed to help the U.S. secure “the best final deal possible.”
The Treasury Secretary is scheduled to attend important trade meetings with Chinese officials this weekend in Switzerland, marking the first formal negotiations between the U.S. and China since Trump’s re-election.
