President Trump predicts a reduction in China tariffs and hints at a potential meeting with President Xi Jinping following upcoming trade talks.
U.S. President Donald Trump said Thursday he expects that punitive tariffs on China — currently set at 145% — will likely decrease following ongoing trade talks between the two countries. Trump’s remarks came as he unveiled details of a new trade agreement with the United Kingdom, signaling a potential thaw in the trade tensions between the world’s two largest economies.
Trump indicated that substantive negotiations would take place this weekend in Switzerland, where high-level U.S. and Chinese officials are set to meet. The talks will be a first step toward resolving the trade standoff, which has disrupted financial markets and global trade for months.
“I think it’s going to be a very friendly meeting,” Trump said, referencing the talks. “They look forward to doing it in an elegant way.” He added that the 145% tariff on China is unlikely to stay at its current rate, saying, “You can't get any higher. It's at 145, so we know it's coming down.”
The discussions will involve U.S. Treasury Secretary Scott Bessent, chief trade negotiator Jamieson Greer, and China’s economic tsar He Lifeng. The meeting is set to take place in neutral Switzerland, away from the heightened tensions of Washington and Beijing.
Trump also expressed optimism that China wants to strike a deal, stating, “They have a lot to gain… far more to gain than we do, in a sense.” He reiterated his desire for China to open up its economy more fully and addressed the trade surplus China holds with the U.S., which has long been a point of contention.
“I would like to see China open,” Trump remarked, adding, “They have to at this point.”
Asked if he might speak with Chinese President Xi Jinping following the talks, Trump responded, “I might, yeah, sure,” suggesting that there could be further diplomatic engagement after the negotiations.
Trump has previously praised Xi, despite trade disagreements and his accusations regarding China’s role in the COVID-19 pandemic. However, he continues to focus on reducing the trade deficit and addressing long-standing economic concerns.
As the trade talks progress, Trump remained hopeful, stating, “I think it’s going to be substantive. China wants to do something, and look, they have to at this point.”
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