President Trump suggested reducing the current 145% tariffs on Chinese goods to 80% ahead of critical trade discussions with China. His recent social media posts indicate a shift in tone regarding tariffs, despite earlier statements where he dismissed lowering them. U.S. officials are set to meet with Chinese counterparts to address trade relations, as high tariffs have led to decreased shipments from China and a reassessment of orders by U.S. importers. Executives, like Maersk CEO Vincent Clerc, report significant impacts on business decisions due to the ongoing trade conflict.
President Trump proposed slashing tariffs on Chinese goods to 80%, a significant drop from the existing 145%, signaling a potential shift in trade policy.
Despite recent remarks against lowering tariffs, Trump indicated an 80% tariff could be beneficial, emphasizing that closed markets are outdated and hurt trade.
U.S. Treasury Secretary and Trade Representative will meet Chinese officials in Switzerland amid ongoing trade tensions as U.S. companies reassess their orders due to tariffs.
Maersk CEO noted that the high tariffs have prompted immediate reactions from customers, with many canceling or pausing orders to await resolution in trade negotiations.
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