Donald Trump anticipates pivotal U.S.-China trade talks this weekend with hopes of reducing the existing 145% tariffs on Chinese imports. High-level officials will meet in Switzerland, aiming for a breakthrough in their trade negotiations, which have been stagnant for over two months. Trump believes both nations have much to gain from these talks, reaffirming a commitment to open up China’s economy.
Relief is on the horizon for China as President Donald Trump indicated a significant chance of reducing the current tariffs on Chinese goods, which stand at an astonishing 145%. Trump made these comments while endorsing a new trade agreement with Britain, reflecting a more favorable stance towards Beijing. The remarks come as both nations prepare to engage in key trade discussions this weekend.
The backdrop for these talks involves high-ranking officials traveling to Switzerland, marking the first major attempt to address the ongoing trade conflict that has stunted progress for more than two months. This meeting is seen as a potential turning point, especially since the tariffs on Chinese imports have remained unchanged despite the U.S. administration’s various efforts to negotiate trade agreements with other countries.
When pressed on whether he would lower the tariffs, Trump suggested that it’s very likely. He noted, “It could be,” adding that with tariffs already at 145%, there’s nowhere to go but down. He described the upcoming meeting as “friendly” and expressed optimism that both sides are interested in resolving the situation “in an elegant way.”
The discussions in Switzerland will feature prominent figures including U.S. Treasury Secretary Scott Bessent, chief trade negotiator Jamieson Greer, and Chinese economic authority He Lifeng. The implication is that this meeting represents a crucial first step in tackling the trade war that has been a significant disruption to the global economy.
Trump made a point to emphasize that he believes China is eager to reach a consensus during the talks. He stated, “I think we’re going to have a good weekend with China. I think they have a lot to gain.” Trump indicated he sees China benefiting more from a deal than the U.S. does.
Regarding the potential for a conversation with Chinese President Xi Jinping post-talks, Trump ambiguous but optimistic, saying, “I might, yeah, sure.” His history of praising Xi, while also placing blame on China for the COVID-19 pandemic, indicates a complex relationship.
Trade has consistently been a focal point for Trump, who has voiced concerns over China’s substantial trade surplus with the U.S., advocating for an opening of China’s economy. He reiterated, “I would like to see China open.”
Ultimately, Trump concluded the remarks with hopeful anticipation for the upcoming discussions, stating, “I think it’s going to be substantive… China wants to do something… they have to at this point.” Trump’s tone suggests a mixture of expectation and encouragement for a positive outcome from the trade talks.
In summary, President Trump is signaling a shift in U.S.-China relations ahead of critical trade talks this weekend. With the potential for reducing the hefty 145% tariffs on Chinese goods, optimism prevails among U.S. officials regarding these discussions. Key players from both nations will come together in Switzerland, marking a promising first step in addressing their trade war. The focus remains on economic cooperation and concessions that could benefit both sides.
Original Source: www.indiatoday.in
