US President Donald Trump on Friday killed Tariff, 80% further from a weekend meeting, indicating a possible step to reduce tension in the ongoing trade war.“80% of tariffs seem to be right on China!” Until Scott B, “Trump posted on Truth Social Social, referring to Treasury Secretary Scott Besant, which is one of the US officials scheduled to speak with Chinese counterparts at a meeting in Switzerland.In a separate post, Trump said, “China should open its market for USA – it will be great for them !!! Closed markets no longer work !!!”The proposed 80% of the duties represents significant reduction from the existing 145% tariffs on many Chinese products. Nevertheless, this rate is much higher than the standard 10% tariff set up in the recently announced US-UK trade agreement on Thursday.China is one of the largest trading partners in the United States. In 2024, the United States exported goods worth $ 143.5 billion to China and imported $ 438.9 billion as per the office of the US Trade Representative.
