On May 7, 2025, President Donald Trump announced that he will not reduce the current 145% tariffs on Chinese imports ahead of upcoming trade negotiations. This decision underscores his administration’s firm stance on trade relations with China.
Key Points:
-
Tariff Policy: President Trump emphasized that the 145% tariffs on Chinese goods will remain in place as a precondition for trade talks.
-
Upcoming Negotiations: High-level trade discussions between U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng are scheduled to take place in Switzerland.
-
Economic Impact: The elevated tariffs have led to a significant decrease in trade volume, with reports indicating a 44% drop in ship traffic at major U.S. ports.
