Trump pushes for 80% tariffs amid U.S.-China trade tensions
U.S. President Donald Trump wrote on his social media platform, Truth Social, that tariffs on Chinese goods should be 80%. "Up to Scott B.," he noted, likely referring to the U.S. Secretary of the Treasury. In April, the U.S. imposed tariffs of 145% on China.
"80% Tariff on China seems right! Up to Scott B.," Trump wrote, probably referring to Scott Bessent, the U.S. Secretary of the Treasury, who is set to meet over the weekend with Chinese Vice Premier He Lifeng.
Eighty percent tariffs would be significantly lower than the 145% tariffs imposed on China last month. Trump also urged Beijing to open its markets, writing that "CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!"
U.S.-China talks in Switzerland
Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Geneva, as reported by the U.S. administration last week.
No country has been more affected by Trump's trade war than China, the world's largest exporter and second-largest economy, noted Reuters. When the U.S. President announced his tariffs on April 2, China responded with its own retaliatory tariffs, which Trump considered a sign of disrespect.
Since then, both countries have increased mutual tariffs on goods; currently, tariffs on Chinese goods in the U.S. are 145%, and Chinese tariffs on American exports are 125%.
