President Donald Trump has indicated a potential reduction of the U.S.’s current 145% tariff rate on China, suggesting an 80% tariff might be more appropriate. This remark, made via a Truth Social post, precedes trade discussions in Geneva involving Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer with Chinese officials. Trump’s comments express a willingness to reconsider tariffs, stating, “Right now, you can’t get any higher.”
Before his presidency, the U.S. imposed a 20% tariff on China, later increasing it to 125%. An 80% tariff, while still significantly high, would represent a major shift. Trump’s tariff strategy has also included the U.K., where discussions aim to diversify U.S. agricultural exports, though actual benefits remain uncertain as the U.K. has yet to guarantee increased imports.
Trump’s previous “Liberation Day” speech introduced considerable tariffs that he has since tried to moderate, but notable tariffs remain, including 25% duties on steel, aluminum, and auto imports. Despite ongoing discussions regarding trade, tangible progress is limited, leading to diminished business confidence.
Moreover, reports suggest that the tariffs may not be achieving the intended effect. In April, China’s exports reportedly surged, indicating a possible strategy of rerouting shipments through Southeast Asia to bypass U.S. tariffs, which raises questions regarding the overall efficacy of Trump’s trade policy. The Chinese embassy has not yet responded to inquiries about these developments. Overall, while discussions about reducing tariffs are underway, concrete outcomes remain elusive, and economic implications continue to unfold.
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