Trump's Tariff Talks: A New Path Forward?

U.S. President Donald Trump proposes an 80% tariff on Chinese goods, suggesting a shift from the current 145%. Talks in Switzerland with China aim to mitigate the ongoing trade war. Officials from both sides, including U.S. Treasury Secretary Scott Bessent and China's economic tsar, He Lifeng, anticipate potential concessions.

In a significant development ahead of pivotal trade talks, U.S. President Donald Trump has proposed lowering tariffs on Chinese imports to 80%, down from the current 145% rate. This suggestion marks the first time a specific alternative has been floated as tensions between the world's largest economies simmer.

U.S. Treasury Secretary Scott Bessent and Chief Trade Negotiator Jamieson Greer are set to meet with China's economic tsar, He Lifeng, in Switzerland. The meeting is eagerly watched as a potential first step in resolving the damaging trade conflict that has rippled through global supply chains.

While Trump maintains the U.S. will not reduce tariffs unilaterally, pending concessions from China, there is cautious optimism. Swiss Vice President Guy Parmelin expressed hope post-bilateral discussions, highlighting the importance of continued dialogue in lowering tensions.

(With inputs from agencies.)