President Donald Trump has indicated the will to drastically reduce the current tariff rate of 145% of the United States in China before commercial conversations between the two countries.
Trump wrote in a real social position on Friday morning: “80% of the Chinese rate seems correct! A Scott B.”, appears to refer to the Secretary of the Treasury, Scott Besent.
The publication comes a day before Besent and the US trade representative Jamieson Greer meet their Chinese counterparts in Geneva for commercial discussions.
Trump indicated Thursday that he could be open to reduce the current 145% rate on China. “I mean, let’s see. At this time, you can’t increase,” he said during the comments of the Oval office.
A representative of the Chinese embassy in the United States did not immediately respond to a comment request.
A general rate of 80% would still be far beyond the duties that the United States had in China before Trump assumed the position. First, a 20% tax imposed on the third largest source of imports in the United States in response to its alleged inaction by stopping fentanyl flows, then signed an executive order several weeks later imposing 125% tariffs.
In general, Trump’s most difficult approach to rates negotiations has continued incessantly: on Thursday, he announced that he was working on an agreement with the United Kingdom that contained few details but would leave the service of 10% of the US. UU. In all countries mainly in touch. However, although the agreement pointed out ways to expand US exports of beef, ethanol and other agricultural products, it still did not provide guarantees that the United Kingdom would really increase imports of those products.
Trump has tried to return the homework of country by country that he announced during his speech as a “day of liberation” more than a month ago.
But considerable levies remain, including 25% tariffs in all imports of steel, aluminum and car. While the discussion about trade agreements remains abundant, real progress in them has been relatively scarce, leaving business confidence.
Nor is it clear that China’s tariffs have Trump’s desired effect. In April, according to CNBC calculations, China’s exports increased in the midst of shipping to Southeast Asian countries, an indicator that China can simply increase trans transport of goods to external countries that then export to the United States, an expert to CNBC told CNBC.
