Trump Maintains China Tariffs Ahead of Trade Talks

President Donald Trump affirmed that steep 145% tariffs on Chinese imports will remain in place ahead of key trade talks in Switzerland, signaling no intention to ease his tough trade stance despite ongoing negotiations. China responded by raising tariffs on American goods to 125%, effectively freezing much of the trade between the two nations. Meanwhile, U.S. business groups have expressed concern over the potential cancellation of the U.S.-China tax treaty, warning that such a move could increase tax burdens and operational difficulties for American companies operating in China. These groups argue that the treaty is critical for maintaining the competitiveness of U.S. businesses globally and caution against its termination. The White House is reviewing the treaty as part of its 'America First' investment policy, but no final decision has been made. Treasury Secretary Scott Bessent is set to meet with China's top trade negotiator in Switzerland as both sides grapple with escalating economic tensions.