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yesterday

Trump Proposes 80% Tariff on Chinese Goods Ahead of Trade Talks

President Trump signals potential tariff reduction from 145% to 80% while urging China to open its markets, leaving the final decision to Treasury Secretary Scott Bessent.

U.S. President Donald Trump listens to questions as he makes an announcement about a trade deal with the U.K., in the Oval Office at the White House in Washington, D.C., U.S., May 8, 2025. REUTERS/Leah Millis
Image
President Trump in the Oval Office. Photo: Anna Moneymaker/Getty Images)

Overview

  • President Trump stated that an 80% tariff on Chinese imports 'seems right,' a significant reduction from the current 145% rate.
  • Trump emphasized that China should open its markets to U.S. goods, calling closed markets outdated and counterproductive.
  • The final decision on the proposed tariff adjustment has been delegated to Treasury Secretary Scott Bessent.
  • These developments come on the eve of pivotal U.S.-China trade negotiations set to take place in Switzerland.
  • The announcement follows months of heightened tariff tensions between the two nations, with escalating rates causing economic uncertainty.