Trump Reduces China Tariffs to 80%, Preparing for Trade Talks

President Donald Trump has dramatically altered his stance in the ongoing trade dispute with China, proposing a significantly reduced tariff rate of 80% on imports from the Asian nation. This marks a significant shift from the previously imposed 145% duties, which had triggered substantial market volatility and disruptions to global supply chains. Trump’s decision is likely driven by pressure from financial markets and advisors like Treasury Secretary Scott Bessent, who argued that higher tariffs were unsustainable and aimed to foster stability during the upcoming trade talks scheduled for May 10.