Trump Rules Out Tariff Cut Ahead of US-China Trade Talks

On Wednesday, U.S. President Donald Trump declared that he has no plans to reduce China’s steep 145% tariffs to jumpstart trade negotiations, firmly shutting down the idea of easing tensions as discussions approach.

Responding to questions on whether the administration might lower import duties to entice Beijing to the table, Trump responded with a direct “No.” His statement comes ahead of a key meeting in Switzerland between U.S. Treasury Secretary Scott Bessent and a top Chinese official, where trade and economic matters will be discussed.

China also asserted on Wednesday that the United States had asked for the meeting and reiterated its strong opposition to Trump’s tariff increases ahead of the diplomatic talks. Pushing back against Beijing’s version of events, Trump told reporters, “They said we initiated? Well, I think they should go back and review their files.”

Asked about his expectations from the upcoming discussions, the President added, “We’ll see. We used to lose a trillion dollars a year, now, we’re not. That’s how I view it.” This week’s developments follow Trump’s remarks in an NBC interview, where he hinted at a possible future reduction in tariffs if trade negotiations progress. He pointed to severe economic consequences in China, including rising factory shutdowns and job losses.

Earlier, on May 2, a spokesperson for China’s Commerce Ministry noted that Beijing was evaluating U.S. proposals but demanded the removal of Trump’s “unilateral” tariff increases as a precondition for serious dialogue.

Trade relations between the two economic superpowers have largely stalled. Since April 2, when Trump announced sweeping 10% base tariffs on imports and introduced reciprocal duties with over 100 nations, including a 34% levy on Chinese goods, Beijing has hit back with retaliatory tariffs, deepening the ongoing trade standoff.