US President Donald Trump on Friday (May 9) suggested that 80% tariff on Chinese goods “seems to be right” because representatives of both nations prepared for key weekend interviews aimed at relaxing tensions in the ongoing trade war.
“80% of the tariff on China seems to be right. Except Scott B,” Trump said to Truth Social, referring to the US Finance Minister Scott Bessnt. He added: “China should open its market to the US – it would be so good for them !!! Closed markets no longer work !!!”
High -level interviews in Geneva
Bessnt and the main business negotiator Jamieson Greer are scheduled to meet with the best Chinese economic official, Lifeng, in Switzerland. The discussions that will take place in Geneva are described as a preliminary step towards de-academic conflict of trade conflicts between the two largest economies in the world.
Customs tariffs on both sides
Since returning to the office in January, Trump has increased the fees for Chinese imports to 145%. In response, China was a retaliation with 125% tariff to American goods and other doses focused on key products such as soybeans and liquefied natural gas. Beijing also imposed export limitation to certain elements of rare soils.
Skepticism over Trump’s demands
Trump’s progress statement in a commercial dispute caused control. He repeatedly claimed to have spoken to Chinese President Xi Jinping about tariffs, but China denies the claim to Donald Trump for business interviews that no such interviews have recently occurred.
Chinese export
Despite the growing tariffs in the US, Chinese exports appeared in April. Official data published on Friday showed that exports increased by 8.1% in US dollar conditions year -on -year and resisted the prognosis of Reuters by 1.9%. However, imports decreased by 0.2% – a lower decline than the expected decrease of 5.9%.
In the first four months of 2025, Chinese exports to the US dropped by 2.5%, while importing from the US slipped by 4.7% compared to the previous year.
Eyes on inflation data
On Saturday, China is to release its data on consumer and wholesale inflations. According to Reuters survey, economists expect the consumer price index to fall by 0.1% year -on -year and the manufacturer’s price index will drop by 2.8%.
(Tagstotranslate) Donald Trump Tariff’s proposal to China (T) US-Chinese Trade Interviews (T) Escalat of Tariffs (T) China
