Trump Hints at Easing US-China Trade Tensions
President Trump has signaled a potential easing in the ongoing US-China trade war, indicating that the steep 145% import tariffs on Chinese goods may soon be reduced. A high-level meeting is scheduled in Switzerland, with Treasury Secretary Scott Bessent representing the US and Vice Premier He Lifeng representing China.
Key Highlights:
Tariff Reduction Likely: Trump acknowledged the current tariff rate is “very high” and suggested that a rollback is on the horizon.
Switzerland Meeting: Talks will focus on de-escalating trade tensions and seeking a mutually beneficial path forward.
Positive Outlook: Trump described the upcoming discussions as “very friendly” and expressed hope for an “elegant resolution.”
Economic Strains: Both economies are under pressure—China’s exports to the US fell over 20% in April year-over-year.
Expected Outcomes:
Limited Tariff Relief: Experts expect only modest tariff adjustments.
Prolonged Negotiations: Deep-rooted structural differences mean a full resolution may take time.
Meanwhile, the US has reached a new trade agreement with the UK, slashing duties on select British automobiles and allowing tariff-free steel and aluminum imports. This move could lay the groundwork for a broader trade accord with China.
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