President Trump on Friday suggested that he was open to sharply reducing the tariffs that the United States has imposed on China, as American and Chinese negotiators prepare to meet in Switzerland this weekend for high-stakes trade talks.
Trade tensions between the U.S. and China have roiled international markets and the global economy. The negotiations on Saturday and Sunday are intended to de-escalate the situation and set the stage for a broader trade pact between the two economic superpowers.
In a post on social media, Mr. Trump said that an 80 percent tariff on China “seems right,” adding that it would be “up to Scott B,” an apparent reference to Treasury Secretary Scott Bessent. An 80 percent tariff would be a big drop from the 145 percent tariffs that Mr. Trump applied to Chinese imports in recent months, but would still be restrictive to trade between the two countries.
While the Trump administration has been racing to strike trade deals with other countries, it has remained in a standoff with China. Earlier this week, the two sides had agreed to hold meetings in Geneva that will include Mr. Bessent; Jamieson Greer, the U.S. Trade Representative; and He Lifeng, China’s vice premier for economic policy.
Mr. Bessent has argued that the tariffs and trade restrictions that the United States and China have levied are “unsustainable” and has urged Beijing to begin talks to address what the Trump administration views as unfair trade practices.
Despite Mr. Trump’s affinity for imposing tariffs, in a separate post on Truth Social on Friday he made the case for open markets and called on China to expand access for American businesses.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” Mr. Trump wrote.
Alan Rappeport is an economic policy reporter for The Times, based in Washington. He covers the Treasury Department and writes about taxes, trade and fiscal matters.
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