The announcement comes as White House officials are set to meet with high-level Chinese authorities.
President Donald Trump on Friday signaled that he may cut tariffs on China from 145 percent to 80 percent ahead of a meeting between the White House and top Chinese regime officials over the weekend.
The meeting is scheduled to take place in Switzerland, marking the first talks between the two major economies, coming weeks after Trump announced 145 percent duties on Chinese imports and Beijing responded with 125 percent tariffs on U.S. imports.
An “80 percent Tariff on China seems right! Up to Scott B,” Trump wrote on his social media account on Friday morning, referring to Treasury Secretary Scott Bessent.
The Republican president also suggested in a separate Truth Social post on Friday that China open its markets to the United States and its businesses, writing in all caps: “Would be so good for them!!! Closed markets don’t work anymore!!!”
Trump previously stated that he wouldn’t lower the tariffs on Chinese products to hold trade talks. But on Thursday, when he was asked about the tariffs, the president said he may lower the rates if the negotiations over the weekend are productive.
“We’re going to see,” Trump told reporters. “Right now, you can’t get any higher. It’s at 145 [percent], so we know it’s coming down.”
As part of his economic agenda, Trump has said that he wants large amounts of tariff revenues to offset his income tax cuts, and he also wants deals to increase market access for U.S. goods that would likely require lower tariffs. His aides have said publicly that the administration wants to isolate China via tariffs and other means.
When he announced the 145 percent import tax on China, he paused higher tariffs on major trading partners such as the European Union, Japan, Taiwan, Vietnam, and more for 90 days as negotiations played out.
However, Trump kept intact a 10 percent baseline tariff on nearly every nation in the world. Duties of 25 percent on Mexico and Canada, as well as 25 percent tariffs on autos and steel, also remain in effect.
