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@SpecialSitsNewsPrior to this meeting, the Wall Street consensus was that tariffs would be paused/dropped to 50% on both sides... Let's see what tomorrow brings...
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Trump Proposes Cutting China Tariffs from 145% to 80% Ahead of Geneva Talks
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President Donald Trump has indicated a potential reduction of U.S. tariffs on Chinese imports from 145% to 80% ahead of crucial trade negotiations between the U.S. and China set to take place in Geneva, Switzerland this weekend. The proposed tariff cut comes as part of efforts to deescalate the ongoing trade war between the world's two largest economies.
Trump's suggestion was made public through a post on his social media platform, Truth Social, where he stated that an '80% Tariff on China seems right! Up to Scott B,' referring to U.S. Treasury Secretary Scott Bessent. This move is seen as a strategic negotiation tactic ahead of the talks, which will involve Bessent and U.S. Trade Representative Jamieson Greer meeting with Chinese Vice Premier He Lifeng.
The current U.S. tariffs on China, which reached 145% last month, have been met with retaliatory measures from China, imposing a 125% levy on American imports. The high tariffs have significantly disrupted trade between the two nations, with shipments from China to the U.S. decreasing drastically.
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