Trump suggests cutting tariffs on China to 80%

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FILE-President Donald Trump delivers remarks in the East Room of the White House on January 29, 2025 in Washington, D.C. (Photo by Chip Somodevilla/Getty Images)

President Donald Trump hinted at cutting tariffs on China from 145% to 80% amid an ongoing trade war.

"80% Tariff on China seems right! Up to Scott B," Trump wrote on his Truth Social platform on Friday morning, referring to Scott Bessent, his Treasury chief, who has been a point person on trade. The Republican president also called on China to open its markets to the U.S., writing: "WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!"

RELATED: China retaliates against Trump by imposing 34% tariffs on all US imports

US and China trade meeting

Why you should care:

Treasury Chief Scott Bessent and U.S. Trade Representative Jamieson Greer are meeting with a Chinese delegation in Geneva, Switzerland in the first major talks between the two countries since President Donald Trump started a trade war with tariffs on imports.

RELATED: Who’s at risk? US companies facing the biggest hit from China tariffs

Trump said Thursday that he "could" lower the 145% rate charged on Chinese goods if the weekend talks go well, the Associated Press reported. "We’re going to see," Trump said. Right now, you can’t get any higher. It’s at 145, so we know it’s coming down."

Trump tariffs impacting China more

Dig deeper:

China, the world’s largest exporter and second-largest economy, has been hit harder by President Donald Trump’s tariffs. The Associated Press reported that Trump announced his "Liberation Day" tariffs on April 2, China retaliated with tariffs of its own, a move that Trump viewed as demonstrating a lack of respect. The tariffs on each other’s goods have been mounting since then, with the U.S. tariffs against China now at 145% and China tariffs on the U.S. at 125%.