‘80% seems right’: Donald Trump floats slashing China tariffs to ease trade war – Times of India-OxBig News Network

US President Donald Trump on Friday floated slashing tariffs on China to 80% ahead of a weekend meeting, signaling a possible move to ease tensions in the ongoing trade war.“80% Tariff on China seems right! Up to Scott B,” Trump posted on Truth Social referring to Treasury Secretary Scott Bessent, who is one of the US officials set to speak with counterparts from China at a meeting in Switzerland.In a separate post Trump said, “China should open up its market to USA — would be so good for them!!! closed markets don’t work anymore!!!”The proposed 80% duty represents a considerable decrease from the existing 145% tariff imposed on numerous Chinese products. Nevertheless, this rate remains significantly higher than the standard 10% tariff established in the recently announced US-UK trade agreement on Thursday.China remains one of the United States’ biggest trading partners. In 2024, the United States exported $143.5 billion worth of goods to China and imported $438.9 billion, according to the Office of the US Trade Representative.