The Trump administration is considering cutting the steep 145% tariff on Chinese imports by more than half, possibly as early as next week, as US and Chinese officials gear up for high-level trade talks in Switzerland, The New York Post reported, citing sources close to the negotiations.
US officials are reportedly weighing a reduction of the levy to somewhere between 50% and 54%, a move aimed at easing tensions as trade negotiations unfold. The proposed cut, according to The Post, would be accompanied by a separate plan to lower tariffs on imports from neighbouring South Asian countries to 25%.
“They are going to be bringing it down to 50% while the negotiations are ongoing,” a source was quoted as saying by The Post.
US President Trump hinted at the potential tariff shift during a meeting with UK officials in the Oval Office, stating, “It’s at 145 so we know it’s coming down,” while expressing optimism over US-China ties. “I think we’re going to have a very good relationship,” he added.
Posted by John3262005
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The Art of the Deal, Chapter 5: Give Up Before Negotiating
So he starts a trade war by raising tariffs, causes a big scene, then other countries respond in kind and then he claims he got a good deal all to just go back to the original state of trade. This is getting fucking exhausting.