President Donald Trump suggested Friday that his 145% tariff on China could be reduced to 80%.
“80% Tariff on China seems right! Up to Scott B.,” Trump said on his social media platform Truth Social, in reference to Treasury Secretary Scott Bessent.
In another post, he said, “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”
His announcement comes as top trade negotiators from the United States and China are set to meet in Geneva on Saturday. It will mark the first face-to-face conversation the two nations have had since Trump escalated his trade war with China and levied a 145% tariff on it.
Bessent and U.S. Trade Representative Jamieson Greer have suggested that the administration views these initial talks as a way to ease tensions.
“My sense is that this will be about de-escalation, not about the big trade deal,” Bessent told Fox News on Tuesday.
Shipments from China to ports in the U.S. have drastically decreased since Trump enacted his higher tariffs. Corporate retailers have warned of disruptions.
BESSENT SAYS ‘AMERICA FIRST DOES NOT MEAN AMERICA ALONE,’ URGES COLLABORATION ON TRADE
Trump tried to frame the decrease in shipments as a positive sign.
“We were losing a trillion dollars a year, now we’re not losing anything, you know? That’s the way I look at it,” he said Thursday.