Key Takeaways
- President Donald Trump said that this weekend’s meetings between U.S. and Chinese officials on trade and economic issues could be “very substantive.”
- This weekend’s meeting is the first between the two countries since Trump imposed a 145% tariff on Chinese goods, which has led to market disruptions and worries about higher inflation.
- Trump also said it was possible that tariffs could be lowered if the meetings went well.
President Donald Trump said Wednesday that this weekend’s talks with China would be “very substantive” and, if productive, could lead to tariff reductions.
In response to questions, Trump said that top economic and trade issues would likely be discussed during this weekend’s meeting between Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and top Chinese officials.
“They very much want to make a deal,” Trump said at a press conference announcing a trade deal with the U.K. “I think it’s a very friendly meeting. They look forward to doing it in an elegant way.”
It’s the first meeting between officials since the U.S. and China engaged in a tit-for-tat ratcheting of tariffs on each other, which resulted in the U.S. levying tariffs of 145% on Chinese imports. The trade dispute has disrupted markets and raised worries over inflation and supply chain disruptions.
Trump was asked whether he would consider lowering the tariffs on China if the meetings went well.
“It could be. We’re going to see,” Trump said. “Right now, you can’t get any higher. It’s at 145%, so we know it’s coming down.”
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