Trump warns China he won’t lower 145% tariffs to boost trade talks

WASHINGTON — President Trump stated on Wednesday that he has no intention of reducing tariffs exceeding 145% on Chinese goods to facilitate trade talks. This decision comes as Treasury Secretary Scott Bessent prepares to meet with a delegation from Beijing over the weekend.

During a press briefing in the Oval Office, a journalist asked Trump if he would consider lowering tariffs to initiate negotiations with China. Trump responded with a firm “No,” despite Bessent’s remarks indicating a focus on de-escalating trade tensions during his upcoming discussions with Chinese Vice Premier He Lifeng in Switzerland.

Both sides have emphasized the importance of optics leading into the talks, with each party claiming the other initiated the dialogue. While Bessent suggested the possibility of a mutual reduction in tariffs, Chinese Foreign Ministry spokesman Lin Jian reiterated China’s stance that negotiations won’t proceed unless the US lowers its tariffs.

The high tariffs imposed on Chinese goods have significantly impacted shipping and raised concerns among US retailers about potential shortages. Major ports like Los Angeles and Long Beach have reported a 44% decrease in docked vessels compared to the previous year, reflecting the consequences of the tariffs.

Despite concerns about the economic impact of tariffs, particularly on Chinese imports, Trump has downplayed the potential effects. However, experts warn of a looming recession, shortages, and layoffs in various industries due to the ongoing trade tensions.

China ranks among America’s top trading partners, with billions of dollars worth of goods exchanged between the two countries annually. The current average US tariff rate on Chinese goods stands at 147.6%, a significant increase from the rate when Trump assumed office.