Reports indicate that the 145% tariff on Chinese goods may be lowered as trade agreement discussions continue.
The Trump administration is reportedly considering lowering the significant tariffs previously placed on Chinese goods, according to the New York Post, citing sources familiar with the deliberations. The change could take effect as early as next week and remain in place during trade negotiations between the two nations.
High-ranking officials from both China and the U.S. are scheduled to meet in Geneva, Switzerland, this Saturday for talks aimed at easing tensions that have led to a virtual trade standoff between the world’s two largest economies.
The New York Post, citing sources close to the negotiations, reports that the extensive 145% tariff on Chinese imports could be reduced to between 50% and 54%. One source mentioned to the publication that tariffs on goods from neighboring South Asian countries might be lowered to 25%.
When asked about the potential reduction, White House spokesman Kush Desai told the New York Post that any tariff decisions would come directly from the president, stating that “anything else is just pure speculation.”
Relations between Washington and Beijing have been strained following Trump’s decision to implement historically high tariffs on Chinese exports to the U.S., citing national security and trade imbalance concerns as justification. In response, Chinese authorities have accused the White House of “economic bullying” and have retaliated with 125% tariffs on all U.S. imports, as well as introducing export controls.
Earlier in the week, China’s Commerce Ministry confirmed that Vice Premier He Lifeng will meet with U.S. Treasury Secretary Scott Bessent for economic and trade discussions during his upcoming visit to Switzerland.
On Thursday, Trump voiced optimism that both countries could resolve their disagreements and reach a mutually beneficial agreement.
“`