Trump stands firm: No reduction in China tariffs ahead of talks
President Donald Trump has firmly dismissed the possibility of reducing the 145% tariffs on China, which could aid trade negotiations with Beijing. The meeting regarding this matter is scheduled in Switzerland in the coming days.
US President Donald Trump has ruled out lowering the significant tariffs on China, which currently stand at 145%. According to reports from CNBC, Trump firmly responded "no" when asked if he was considering easing the tariffs to encourage China to negotiate. His decision came three days before US Treasury Secretary Scott Bessent's planned meeting with his Chinese counterpart in Switzerland.
China has confirmed that the US initiated the meeting. Beijing remains strongly opposed to Trump's tariff increases.
When questioned about expectations for the talks in Europe, the US President remarked: "We'll see how that all turns out, but it's got to be a fair deal. But think of it, we're losing a trillion dollars and that was a big part of the $5 million a day."
The meeting in Switzerland addresses trade and economic issues between the US and China. Despite tensions, both sides strive to find common ground on financial matters.
However, Trump does not intend to back down on the tariff issue, which could impede the progress towards reaching an agreement.
