US President Donald Trump. — Reuters
U.S. President Donald Trump said on Friday that 80% tariffs on Chinese goods "seems right" as representatives prepared for weekend talks to contain a trade war between the world's two largest economies.
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet Chinese economic tsar He Lifeng in Switzerland for talks that could be the first step toward resolving their trade disputes.
"China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore!!!" Trump said in a Truth Social post.
"80% tariff on China seems right. Up to Scott B," Trump said.
Since taking office in January, Trump has hiked levies on imports from China to 145%, in addition to those he imposed on many Chinese goods during his first term and the duties levied on Beijing by the Biden administration.
China hit back by imposing export curbs on some rare earth elements and raising tariffs on U.S. goods to 125%, in addition to extra levies on select products including soybeans and liquefied natural gas.
