President Trump said Thursday that he’s open to lowering tariffs on China after upcoming trade talks between the two countries, and hinted that he could soon meet with Chinese President Xi Jinping.
Asked if he would consider lowering the 145% tariffs imposed by the U.S. on China to spur trade-war negotiations with Beijing, Mr. Trump responded, “It could be.”
“You can’t get any higher. It’s at 145%, so we know it’s coming down,” Mr. Trump told reporters in the Oval Office, where he announced the first major trade deal of his administration with the United Kingdom.
Mr. Trump’s remarks come ahead of senior-level talks between China and the U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with China’s top economic officials on Saturday in Switzerland, marking the first step in potential negotiations over a blistering trade war that is disrupting the global economy.
“I think we are going to have a very good weekend with China. They have a lot to gain,” Mr. Trump said.
He said he expects the weekend talks to be substantive and friendly.
The comments are somewhat of a reversal for Mr. Trump. When asked Wednesday if he was willing to reduce tariffs on China, Mr. Trump fired back, “No.”
“We were losing with China on trade, a trillion dollars a year – more, actually,” he said. “You know what we’re losing now? Nothing. That’s not bad.”
Mr. Trump said Thursday that he “might see” Mr. Xi after the weekend talks, suggesting a potential sit-down between the leaders of the world’s No. 1 and No. 2 economies.
Beijing has pushed back hard against Mr. Trump’s tariffs, repeatedly insisting that it will not negotiate with the U.S. unless the Trump administration withdraws its tariffs.
The talks come after weeks of escalating tensions and tariffs that have seen duties on goods soar beyond 100%, amounting to what’s essentially a trade embargo.
