"Tariffs on China 145→50%... US Considering Reduction Plan"

China's April Exports Increase by 8%

The New York Post, a pro-Trump media outlet, reported on the 8th (local time) that the Trump administration is considering reducing the additional 145% tariffs imposed on Chinese imports to 50-54%, citing sources. This report comes as the US and China are set to hold their first tariff negotiations in Switzerland on the 10th, with Treasury Secretary Scott Besant and Vice Premier He Lifeng representing their respective countries.

President Trump also announced a trade agreement with the UK on the same day, stating, "The tariffs on China will have to come down," and "Currently, it's 145%, but it will soon be lowered." However, there is speculation that the New York Post report is likely an internal review by the US administration, assuming the negotiations with China in Switzerland proceed smoothly.

Amid the intensifying US-China tariff war, China's General Administration of Customs announced on the 9th that last month's exports increased by 8.1% compared to the same month last year. Imports decreased by 0.2%. The export growth rate exceeded market expectations (1.9-2.0% increase). However, China's exports to the US last month were $33 billion, a 17.6% decrease from the previous month. It is analyzed that the decrease in exports to the US was offset by 'push exports' to other regions such as Southeast Asia and the European Union (EU).

Reporter Hyein Lee hey@hankyung.com