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Trump Signals Potential Tariff Reduction as U.S.-China Trade Talks Begin

President Trump proposes cutting tariffs on Chinese imports to 80%, but the White House insists reductions hinge on reciprocal concessions from Beijing.

Switzerland's President Karin Keller-Sutter, US Secretary of the Treasury Scott Bessent, US Trade Representative Jamieson Greer and Switzerland's Economy Minister Federal Councillor Guy Parmelin, in Geneva, Switzerland.
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Overview

  • U.S. and Chinese officials convene in Geneva for high-level trade talks aimed at easing record-breaking tariffs that have strained global markets.
  • President Trump suggested lowering tariffs on Chinese goods from 145% to 80%, though the White House remains firm that reductions require concessions from China.
  • Chinese exports to the U.S. dropped 21% in April compared to last year, reflecting the economic impact of the trade standoff.
  • Businesses are reconfiguring supply chains, with some firms like Keen Footwear pledging to maintain stable prices despite increased costs.
  • The talks are framed as a step toward de-escalation, but major agreements remain unlikely without direct involvement from President Trump and Chinese leader Xi Jinping.