Donald Trump has said 80 per cent tariffs on Chinese imports “seems right” as the US president stakes out a position ahead of talks between Washington and Beijing this weekend.
Trump posted on his Truth Social platform on Friday: “80% Tariff on China seems right! Up to Scott B” — a reference to a meeting due to start on Saturday in Geneva between US representatives led by Treasury secretary Scott Bessent and Chinese officials.
Trump also posted: “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”
Earlier reports had indicated that the Trump administration was aiming to cut tariffs below 60 per cent. Last month Trump announced a punitive 145 per cent tariff on many Chinese goods exports, freezing most trade between the countries.
Signs that the US was willing to row back sharply from its existing tariffs had earlier buoyed markets but Trump’s reference to 80 per cent caused S&P 500 futures to pare gains on Friday.
This is a developing story
