The Trump administration is weighing a plan to slash the 145% tariff on Chinese imports by more than half — effective as soon as next week — as top US and China officials head to Switzerland for high-level trade negotiations, APA reports citing New York Post.
Specifically, US officials are discussing a proposal to lower President Trump’s punishing levy on China goods to between 50% and 54% as they begin what promise to be lengthy talks to hammer out a trade agreement, sources close to the negotiations said.
Meanwhile, trade taxes on neighboring south Asian countries would be cut to 25%, the source added.
“They are going to be bringing it down to 50% while the negotiations are ongoing,” the source said of the trade tax on China.
The trade tax reduction is being eyed as Trump on Thursday said China tariffs “can only come down” as he unveiled a a trade deal with the UK in the Oval Office.
“It’s at 145 so we know it’s coming down,” Trump told reporters. “I think we’re going to have a very good relationship.”
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