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Wall Street Mixed as Trump Suggests 80% Tariff on China Ahead of U.S.-China Trade Talks

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Published May 9, 2025, 11:24 PM

Wall Street ended the week with mixed results as investors awaited crucial trade talks between the U.S. and China scheduled for the weekend. The S&P 500 closed down 0.08%, the Nasdaq Composite saw a slight decline of 0.01%, and the Dow Jones Industrial Average fell by 0.31%. President Donald Trump suggested a possible reduction of U.S. tariffs on Chinese imports from the current 145% to 80%, ahead of the negotiations. These comments were made on his Truth Social network as part of ongoing efforts to address the escalating trade war between the world's two largest economies. Treasury Secretary Scott Bessent will be in Switzerland for the talks. The anticipation of the U.S.-China meeting contributed to a cautious market environment, with investors hoping for progress in lowering tariffs to mitigate the risk of a recession. The week also saw the announcement of a trade agreement between the U.S. and the United Kingdom, which briefly boosted investor sentiment.

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Reuters Business

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WATCH: US stocks ended little changed after oscillating between slight gains and declines, as investors gauged President Trump's comments on Chinese tariffs ahead of weekend trade talks between the two countries https://t.co/u6ABqZ4j0f https://t.co/F0dZ7avxbL

Reuters

@Reuters

US stocks ended little changed after oscillating between slight gains and declines, as investors gauged President Trump's comments on Chinese tariffs ahead of weekend trade talks between the two countries https://t.co/u1Pgkx40dG https://t.co/DCixVje2vx