President Trump is signaling a potential shift in the US-China trade war, suggesting that the 145% import tariffs imposed on China might be rolled back. A meeting between top officials from both countries is scheduled to take place in Switzerland, where Treasury Secretary Scott Bessent will represent the US, and Vice Premier He Lifeng will represent China.

Key Points:

- Tariff Rollback: Trump stated that the tariffs are likely coming down, citing their current high rate of 145%.

- Upcoming Meeting: The Switzerland meeting aims to discuss reducing trade tensions between the two nations.

- Friendly Talks: Trump described the meeting as "very friendly" and peaceful, with both sides looking forward to an elegant resolution.

- Economic Pressure: Both countries are feeling economic strain, with China's exports to the US dropping over 20% in April compared to last year.

- Potential Outcomes:

- Minor Tariff Cuts: Analysts believe any tariff reductions will be minimal.

- Long Road Ahead: Systemic issues between the US and China won't be resolved soon, with high tariff barriers likely remaining.

In a recent development, the US has also struck a new tariffs agreement with the UK, which will lower duties on certain British cars and allow tariff-free imports of steel and aluminum. This agreement serves as a precursor to the potential US-China deal .#TradeStories

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