Trump hints at tariff concessions with China ahead of talks

United States President Donald Trump has hinted at concessions in the ongoing trade war between his country and China.

Trump’s terms come as the US and China prepare for high-level trade talks this weekend in Switzerland.

This will be their first official engagement on trade since the imposition of significant tariffs by the US administration and a subsequent retaliation from China.

The US delegation will be led by Scott Bessent, treasury secretary, while China will be represented by He Lifeng, vice premier.

In a string of Truth Social posts on Friday, Trump said China importing more US goods would benefit the Asian country.

“China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore. 80% Tariff on China seems right,” he said.

Currently, the US has imposed 145 percent tariff on Chinese imports while China’s retaliatory tariffs on US goods stand at 125 percent.

The concession would be a dramatic break from the present reality, which has started to send ripples through some of the world’s strongest economies.

It is unclear if the 80 percent offer would make a difference.

Economists say 50 percent is the make-or-break threshold for the return of somewhat normal business between the two countries.