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President Donald Trump is finally saying out loud what both Beijing and Wall Street have been waiting to hear. He told reporters Thursday that the 145% import tariffs slapped on China since his return to the White House are likely coming down. “You can’t get any higher. It’s at 145, so we know it’s coming down,” he said at a press conference where he also revealed a separate tariffs deal with the UK. This was the strongest signal yet that the two largest economies on the planet are preparing to dial down the trade fight that’s been hitting global markets for months, according to the BBC. The meeting to discuss the tariff rollback will take place this weekend in Switzerland, with both sides sending top-level officials. The US is dispatching Treasury Secretary Scott Bessent, while China will be represented by Vice Premier He Lifeng, the country’s main economic policymaker. Even though the first round will be technical, everyone involved knows this can’t get done without the two leaders stepping in eventually. “I think everyone recognizes that any final deal will require the active engagement of both presidents,” said Stephen Olson, a former US trade negotiator. Trump says the China meeting will be ‘friendly’ At the same event where he unveiled the UK trade agreement, Trump described the upcoming China talks as peaceful. “I think it’s a very friendly meeting. They look forward to doing it in an elegant way,” he said. On the Chinese side, Vice Foreign Minister Hua Chunying had the same energy. Hua said Beijing had “full confidence” in its ability to manage the trade tensions with Washington. Both sides have been getting hit by mounting economic pressure, and analysts say they’re starting to act like it. Dan Wang, a political risk consultant at Eurasia Group, told the…

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Filed under: News - @ May 9, 2025 9:25 am