Trump Proposes Major Tariff Cut Before China Talks

President Donald Trump has proposed reducing US tariffs on Chinese goods from 145% to 80%, ahead of high-level trade talks in Switzerland. Treasury Secretary Scott Bessent will make the final decision and lead the US delegation in negotiations with Chinese Vice Premier He Lifeng in Geneva. The tariff standoff has led to sharply declining Chinese exports to the US, significant market volatility, and strain on multinational corporations and global supply chains. Both sides maintain tough positions, with Trump urging China to open its markets and Chinese officials insisting the US act first. Financial markets have reacted positively to the possibility of tariff reductions, hoping for greater stability. However, there are ongoing concerns that even an 80% tariff could continue to disrupt trade and raise costs for US businesses and consumers.