The Trump administration is contemplating a significant reduction in tariffs on Chinese imports, potentially lowering them from the current 145% to between 50% and 80%. This move comes as high-level trade negotiations between U.S. and Chinese officials are set to commence in Geneva this weekend.
President Donald Trump has publicly suggested that an 80% tariff “seems right,” indicating a possible shift in the U.S.’s trade stance. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are leading the U.S. delegation, aiming to address longstanding trade tensions and explore avenues for economic cooperation.
The proposed tariff reductions are seen as a response to mounting pressure from U.S. businesses and consumers affected by increased costs due to the trade war. Retailers and manufacturers have reported significant disruptions, with some industries, like toy manufacturing, experiencing delays and increased expenses.
Chinese officials, led by Vice Premier He Lifeng, are expected to seek concessions that would alleviate the economic strain caused by the tariffs. China’s exports to the U.S. have declined sharply, and the country’s leadership is looking to stabilize its economy through renewed trade relations.
While a comprehensive trade agreement is unlikely to be finalized during the Geneva talks, both sides appear open to incremental steps that could ease tensions and lay the groundwork for future negotiations.
