Two things this morning on this….
Donald says no 145%……
Maybe 80%?
(The final percentage is bound to be much lower)
He’s the President….
But?
The Percentage involved is up to his Treasury Secretary?
This IS negociating in public?
Trade tensions between the United States and China have roiled international markets and the global economy. The negotiations on Saturday and Sunday are intended to de-escalate the situation and help set the stage for a broader trade pact between the two economic superpowers.
In a post on social media, Mr. Trump said that an 80 percent tariff on China “seems right,” adding that it would be “up to Scott B,” an apparent reference to Treasury Secretary Scott Bessent.
An 80 percent tariff would be a big drop from the current 145 percent that Mr. Trump imposed on Chinese imports in recent months. But that high a level would still shut off most trade between the countries. Chinese data released on Friday showed shipments from that country to the United States plunged 21 percent in April from the same period a year ago.
It’s also unclear if the talks will lead to any short-term resolution for two governments that have serious economic disputes and have taken a harsh tone toward the other in recent months.
The Trump administration has been racing to strike trade deals with other countries ahead of a self-imposed deadline for additional tariffs to go in effect on most trading partners. But it has remained in a standoff with China, which is already subject to a minimum tariff of 145 percent on all imports.
This week, the two sides agreed to hold meetings in Geneva that will include Mr. Bessent; Jamieson Greer, the U.S. trade representative; and He Lifeng, China’s vice premier for economic policy.
Stock markets in the United States opened higher on Friday after Mr. Trump expressed a willingness to lower tariffs and said in a separate post that many trade deals were “in the hopper.” On Thursday, Mr. Trump highlighted a new preliminary economic pact with Britain as evidence that his tariff strategy is working.
The recent elevation of Mr. Bessent, who is viewed as a pragmatist on trade, to lead the talks with China has also helped to calm markets. The Treasury secretary has argued that the tariffs and trade restrictions that the United States and China have levied are “unsustainable” and has urged Beijing to begin talks to address what the Trump administration views as unfair trade practices.
Despite signs of greater flexibility from Mr. Trump, an 80 percent tariff may not be low enough to restart business across the Pacific….
…
But the Trump administration has been under pressure to show progress in trade talks after weeks of volatility in markets and growing fears on Wall Street and in corporate America of a downturn….
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