U.S.-China trade talks intensify amid tariff debate
U.S. President Donald Trump wrote on his social media platform, Truth Social, that tariffs on Chinese goods should be 80 per cent. "But that's Scott B.'s matter," he added, likely referring to the U.S. Secretary of the Treasury. In April, the U.S. imposed tariffs of 145 per cent on Chinese products.
"0% Tariff on China seems right! Up to Scott B," Trump wrote. This is likely a reference to Scott Bessent, the U.S. Secretary of the Treasury, who is set to meet with Chinese Vice Premier He Lifeng over the weekend.
80 per cent tariffs would be significantly lower than the 145 per cent tariffs imposed on China last month. Trump also called on Beijing to open its markets, writing that "China should open up its market to the USA — it would be so good for them. Closed markets don’t work anymore!!!"
U.S.-China talks in Switzerland
The U.S. administration reported last week that Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Geneva.
No country has been more affected by Trump's trade war than China, the world's largest exporter and second-largest economy, noted Reuters. The news agency also recalled that when the U.S. President announced his tariffs on April 2, China responded with its own retaliatory tariffs, which Trump considered a sign of disrespect.
Since then, both countries have increased mutual tariffs on goods; currently, tariffs on Chinese goods in the U.S. are 145 percent, while Chinese tariffs on American exports are 125 percent.
