Trump mulls cutting tariffs on China to 80% ahead of meet with Beijing officials – The Tribune-OxBig News Network

US President Donald Trump on Friday floated cutting tariffs on China from 145 per cent to 80 per cent ahead of a weekend meeting among top US and Chinese trade officials as he looks to deescalate the trade war between the world’s two largest economies.

Top US officials are set to meet with a high-level Chinese delegation in Switzerland in the first major talks between the nations since Trump sparked a trade war with stiff tariffs on imports.

“80 per cent tariff on China seems right! Up to Scott B,” Trump wrote on his social media account on Friday morning, referring to Scott Bessent, his Treasury chief, who has been a point person on trade.

Bessent and US Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng in Geneva in the most-senior known conversations between the two countries in months, according to announcements this week by the US administration and the Chinese commerce ministry. It comes amid growing US market worry over the impact of the tariffs.

Chinese exports to US sink

China’s exports to the US tumbled in April while its trade with other economies surged. Shipments to the US sank 21% in dollar terms. China’s imports from the US dropped more than 13% from a year earlier, while its politically sensitive trade surplus with the United States was nearly $20.5 billion in April, down from about $27.2 billion a year earlier.