The Donald Trump administration is considering the possibility of more than halving tariffs on Chinese goods. The New York Post, citing sources close to the upcoming US-China negotiations, writes that tariffs could be reduced to 50-54%.
According to the publication’s sources, tariffs of 50-54% correspond to the figures announced by Trump at a meeting with representatives of the largest retailers – Home Depot, Walmart and Target.
Earlier, on Tuesday, it became known that Washington and Beijing are ready to hold the first official economic talks in Switzerland since the escalation of the trade war. During the latter, the White House increased import duties on Chinese goods to 125%, which, together with previously existing tariffs, brings the total rate to 145%. Because of this, China’s exports to the US in April fell by more than 20% compared to the previous year.
Speaking to reporters, the American president also said that tariffs on Chinese goods “can only go down,” The New York Post notes: “They [tariffs] are at 145% now, so we know they’re going to go down. I think we’re going to have a very good relationship.”
Tariffs for other South Asian countries could also be reduced to 25% during the upcoming meeting of US and Chinese delegations.
The day before, it was reported that the UK was the first to conclude a trade deal with the US amid Trump’s tariff war.
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