Trump Proposes 80% China Tariffs, Secures Historic UK Trade Deal
President Trump is considering reducing tariffs on Chinese goods to 80% ahead of trade talks, shifting from the previous 145% rate. Concurrently, Trump has announced a landmark trade agreement with the UK, promising vast economic and security benefits through cooperation in key sectors.
- Country:
- United States
President Donald Trump is exploring a reduction of the United States' tariffs on Chinese products, proposing an 80% rate instead of the current 145%. He noted that the final decision would be made by Treasury Secretary Scott Bessent. Trump's comments were made on Truth Social, advocating for an open Chinese market to benefit both countries.
NBC News reported that the announcement comes just before a critical meeting in Geneva involving Bessent and U.S. Trade Representative Jamieson Greer with Chinese officials to discuss trade agreements. Historically, Trump had elevated tariffs to curb issues like fentanyl trafficking by China, initially imposing a 20% tariff that later surged to 125%.
Simultaneously, Trump declared a groundbreaking trade deal with the United Kingdom, emphasizing the agreement as a milestone in fair and reciprocal trade practices. He highlighted the anticipated USD 6 billion in tariff revenue and USD 5 billion in export opportunities, noting the deal's enhancements to national security via collaboration in critical industries such as steel, aluminum, and pharmaceuticals.
(With inputs from agencies.)
Google News