Trump: "80% Tariff on China Seems Appropriate"

On the 9th, U.S. President Donald Trump announced his intention to reduce tariffs on China to 80% ahead of trade negotiations with China.

President Trump wrote on his social media (Truth Social) that "80% seems right for tariffs on China." He also mentioned Treasury Secretary Scott Besant, saying, "It's up to Scott B."

Since taking office in January, President Trump has imposed additional tariffs of up to 145% on Chinese products. In response, China has applied retaliatory tariffs of 125%. As a result, Secretary Besant and U.S. Trade Representative (USTR) Jamie Greer are scheduled to meet with Chinese Vice Premier He Lifeng in Switzerland for two days starting on the 10th to engage in official trade and economic talks for the first time.

There is speculation that President Trump is using a 'conciliatory measure' as a negotiation card ahead of tariff negotiations with China. China is one of the largest trading partners of the United States. According to the USTR, last year the U.S. exported $143.5 billion worth of goods to China and imported $438.9 billion worth of goods.

Trump Unveils Conciliatory Measure of Tariff Reduction Ahead of U.S.-China Negotiations

Stubbornly Held at 145%, Now Taking a Step Back... Also Emphasizes "China Must Open Market to U.S."

On the 7th, after holding a swearing-in ceremony for U.S. Ambassador to China David Perdue at the White House in Washington, D.C., President Trump was asked by reporters if he was willing to withdraw the 145% tariffs imposed on China to bring China to the negotiating table. He firmly answered, "No."

However, on the 9th, President Trump changed his stance. He announced his intention to reduce tariffs on China to 80% ahead of trade negotiations. This has led to interpretations that the U.S. is taking the first step in conciliatory measures desired by China. The Chinese government has previously indicated that it has no intention to negotiate unless the U.S. rectifies the tariff measures it initially imposed.

It is expected that the U.S. government will also address 'unfair trade practices' with China in the negotiations scheduled for this weekend. Just before posting the '80% additional tariff on China' content on Truth Social, President Trump wrote, "China must open its market to the U.S. This will be very good for China," adding, "Closed markets no longer work."

The pro-Trump media outlet New York Post reported the previous day, citing sources, that the Trump administration is considering lowering the 145% additional tariffs on Chinese imports to 50-54%. The '80% tariff rate' announced by President Trump is higher than this report, leading to analysis that it is still high for negotiations with China. CNBC noted, "This figure (80%) can still be considered a trade embargo and is much higher than the 10% basic tariff agreed with the UK," adding, "It is unclear whether the 80% tariff is intended to be a long-term tariff rate on China or a step in negotiations."

Meanwhile, despite the intensification of the U.S.-China tariff war, China's exports are increasing. China's customs announced 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, last month's exports to the U.S. amounted to $33 billion, a 17.6% decrease from the previous month. It is analyzed that the decrease in exports to the U.S. was offset by 'push exports' to other regions such as Southeast Asia and the European Union (EU).

Reporters Donghyun Kim and Hyein Lee 3code@hankyung.com