(The Center Square) – President Donald Trump signaled Friday that he was open to lowering his 145% tariff on imports from China ahead of weekend talks between the two economic superpowers.
Trump’s trade team has been in talks with 17 or the 18 top trade partners as the president looks to reorder global trade through tariffs on imports to the world’s largest economy: America.
“China should open up its market to USA – would be so good for them!!! Closed markets don’t work anymore!!!,” Trump wrote in all caps on Truth Social.
He also said Treasury Secretary Scott Bessent could make the call.
“80% Tariff on China seems right! Up to Scott B.,” Trump wrote on Truth Social Friday morning.
Trump hit China with 145% tariffs after his “Liberation Day” tariff announcement on April 2. China retaliated with 125% tariffs on U.S. goods. Those remain in place, although the two nations are set to begin talks this weekend.
Economists, businesses and many publicly traded companies have warned that tariffs could raise prices on a wide range of consumer products.
Trump has said he wants to use tariffs to restore manufacturing jobs lost to lower-wage countries in decades past, shift the tax burden away from U.S. families, and pay down the national debt.
A tariff is a tax on imported goods. The importer pays the tax and can either absorb the loss or pass the cost on to consumers through higher prices.
This article was originally published at www.thecentersquare.com
