Donald Trump has stated 80 per cent tariffs on Chinese language imports “appears proper” because the US president stakes out a place forward of talks between Washington and Beijing this weekend.
Trump posted on his Reality Social platform on Friday: “80% Tariff on China appears proper! As much as Scott B” — a reference to a gathering resulting from begin on Saturday in Geneva between US representatives led by Treasury secretary Scott Bessent and Chinese language officers.
Trump additionally posted: “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”
Earlier stories had indicated that the Trump administration was aiming to chop tariffs under 60 per cent. Final month Trump introduced a punitive 145 per cent tariff on many Chinese language items exports, freezing most commerce between the international locations.
Indicators that the US was keen to row again sharply from its present tariffs had earlier buoyed markets however Trump’s reference to 80 per cent brought about S&P 500 futures to pare features on Friday.
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