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16h ago

Trump Floats 80% Tariff on China as Trade Talks Begin in Switzerland

The U.S. maintains 145% tariffs on Chinese goods, with Treasury Secretary Scott Bessent tasked to lead de-escalation efforts in upcoming negotiations.

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U.S. Commerce Secretary Howard Lutnick speaks during a meeting between U.S. President Donald Trump and Canadian Prime Minister Mark Carney in the Oval Office at the White House in Washington, D.C., U.S., May 6, 2025. REUTERS/Leah Millis/File Photo
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FILE PHOTO: Chinese and U.S. flags flutter outside the building of an American company in Beijing, China April 8, 2025. REUTERS/Tingshu Wang/File Photo

Overview

  • President Trump suggested an 80% tariff on Chinese imports as a potential target, but current tariffs of 145% remain in place for now.
  • Treasury Secretary Scott Bessent will lead trade discussions with Chinese officials in Switzerland, focusing on reducing tensions rather than achieving a comprehensive deal.
  • China has responded to U.S. tariffs with 125% duties on American goods and continues to reroute exports to Southeast Asia to mitigate the impact.
  • Trump's statement shifts responsibility for trade negotiation outcomes to Bessent, emphasizing the importance of the Geneva talks.
  • The tariff proposal follows a new U.S.-U.K. trade agreement, highlighting ongoing global trade realignments driven by U.S. policy shifts.