WASHINGTON: US President Donald Trump said tariffs against China could be reduced to 80%. In a post on Truth Social, he wrote, "80% ta...
WASHINGTON: US President Donald Trump said tariffs against China could be reduced to 80%.
In a post on Truth Social, he wrote, "80% tariff on China seems right."
In a separate post, he said, "China should open up its market to USA - would be so good for them!!! Closed markets don’t work anymore!!!"
US President Donald Trump announcing on April 2 that the US was imposing tariffs on 185 countries and territories. Russia wasn’t targeted by the measure. The universal tariffs of 10% came into force on April 5, and individual tariffs on April 9.
Trump then announced that he was suspending the additional reciprocal tariffs on some countries and territories for 90 days to allow time for trade talks. The universal tariff of 10% remained in effect.
Trump jacked up the reciprocal tariff rate for China to 125%. It was also subjected to a tariff of 20% for allegedly not doing enough to fight fentanyl smuggling.
Chinese Deputy Prime Minister He Lifeng will be visiting Switzerland from May 9-12, where he is scheduled to meet with US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer.
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