Trump Rules Out Cutting China Tariffs for Trade Talks

Trump also asserted that previously, the US was 'losing a trillion dollars a year' to China on trade and that 'now we're not losing anything'

- Bloomberg

WASHINGTON: President Donald Trump said he's unwilling to preemptively lower tariffs on China in order to unlock more substantive negotiations with Beijing on trade.

"No," Trump said on Wednesday when asked by a reporter if he is open to pulling back his 145% duties on Chinese imports to get the world's second-largest economy to the negotiating table.

The president's comments come before Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer meet this week in Switzerland with Chinese Vice Premier He Lifeng on trade. Trump spoke at a swearing-in ceremony for his ambassador to China, David Perdue.

Trump's stance underlines the massive divide between the US and China on trade and the difficult path they face to a possible agreement on lower tariff levels. It's a dose of reality after Tuesday's announcement of formal talks between the two sides generated optimism that the clash over import taxes could be resolved before it caused lasting economic damage.