President Donald Trump has suggested reducing US trade tariffs on China to 80% ahead of crucial trade discussions in Switzerland. The meeting, scheduled for this weekend, aims to de-escalate the trade war's detrimental effects on the global economy.
In a post on Truth Social, Trump indicated that Treasury Secretary Scott Bessent would make the final decision. Current tariffs stand at 145% on Chinese goods entering the US and 125% on US imports to China.
Financial markets have shown optimism following the announcement of the talks, with global stock markets experiencing gains. Investors are concerned about rising prices and disruptions in supply chains. The US and China are expected to discuss trade barriers. Vice Premier He Lifeng will lead the Chinese delegation.