Trump suggests lower China tariff, says 80% ‘seems right!’
Image Credit: legit- US President Donald Trump suggested lowering tariffs on Chinese imports to 80%, down from the current 145%, with some goods facing cumulative duties up to 245%.
- This proposal comes ahead of trade talks in Geneva between US Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng aimed at de-escalating the trade conflict.
- China retaliated with 125% levies on US goods, but its exports rose 8.1% in April by rerouting trade to Southeast Asia, mitigating US tariffs.
- Alongside talks with China, the US finalized a historic trade deal with Britain, lowering tariffs on British cars and removing steel and aluminum tariffs, sparking optimism in global markets.
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