Trump ready to lower tariffs on China

The trade war initiated by Trump does appear to be over, or at least for the most part.

While Trump has signed deals with other countries, the country that matters the most for consumers would be China, and the administration has announced that a deal is imminent, as well as Trump already announcing lower tariffs.

Come Down

When Trump and China were jousting, Trump eventually raised the tariffs on China to 145%, which immediately resulted in some products being increased in price.

Most Republicans look at tariffs as another tax on the American people, so Trump has not necessarily been on the same page as the GOP caucus during this battle.

In late April, Trump announced that he would be willing to lower tariffs significantly against China, but he wanted his point to be made clear that he would go to war economically with China to get a better deal for the American people.

He stated, “145% is very high and it won’t be that high. It won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero.”

Close to Trade Deal

I have always believed that China was the key to Trump’s tariff war being successful, but it was going to be a matter of who caved first. Would Trump bow to pressure to rising prices, or would China cave due to its overall economy getting hit with much less American money flowing?

My belief is that the two countries needed to come to a settlement where both could save face, as that seemed to be the only way this conflict would be resolved.

Well, that may have just happened, with Treasury Secretary Scott Bessent announcing that a deal seemed imminent. He stated, "We will be giving details tomorrow. But I can tell you that the talks were productive.

"We had the vice premier, two vice ministers who were integrally involved, Ambassador Jamieson [Greer] and myself. And I spoke to President Trump, as did Ambassador Jamieson last night, and he is fully informed of what is going on."

Trump Ready to Lower Tariffs on China

Friday was a big day on this front, as Donald Trump also appeared to be ready to lower the tariffs on China with a deal being negotiated.

To that point. Trump posted on Friday morning, “80% Tariff on China seems right,” but he added that Bessent would be the one making the final call.

When asked about the tariffs, White House Press Secretary Karoline Leavitt stated, "That was a number the president threw out there, and we'll see what happens this weekend.”

I think lowering the tariffs now against China is a good move, as it shows good faith on the part of the United States as well as getting prices lowered for the American people. And if it helps lead to a better overall trade deal, all the better.