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Trump Slashes China Tariffs to 80% Ahead of May 10 Trade Talks
By: bitcoin ethereum news|2025/05/10 04:30:08
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President Donald Trump has made a U-turn in the US-China trade war. He now proposes 80% tariffs on Chinese imports, down from the 145% duties imposed in April 2025. But why a sudden change? This soft stance on tariffs may be a result of pressure from financial markets and advisors like Treasury Secretary Scott Bessent, who felt the higher rates were “unsustainable,” and aimed to stabilize economic ties as trade talks with Beijing loom. The tariffs triggered intense market volatility, with China retaliating through 125% duties on US goods. This tit for tat actions caused uproar to global supply chains and impacting market prices. Can this be fixed? Yes, the reduced tariffs may signal a probable de-escalation, and hoping for smoother US-China relations. Trump Defends His Move In a whirlwind of Truth Social posts, President Trump hinted at an 80% tariff on China, leaving the decision to Scott Bessent. Days later, he softened, suggesting lower tariffs if talks go well. This comes after dismissing tariff rollbacks on China’s 145% duties. Trump also demanded China open its markets, claiming it’s “so good” for them. Is this a strategic dance or a policy pivot? Saturday’s talks may tell. Scott Bessent To Take The Final Call: Trump Trump defends his proposal of an 80% tariff on China. He added that the final call will be taken by US Treasury Secretary Scott Bessent, as the latter will lead the team to negotiate in trade talks to be held on May 10. Will These Trade Talks Impact Bitcoin’s Bull Run? Trump’s proposed 80% tariffs on Chinese imports, which have been making news for a while, had no impact on Bitcoin’s rally as it crossed $100K comfortably on Thursday. Reduced tariffs could stabilize markets, pushing Bitcoin further. However, stalled talks may risk volatility. Investors eye negotiations closely as the negotiations happen on May 10. Source: https://coinpedia.org/news/trump-slashes-china-tariffs-to-80-ahead-of-may-10-trade-talks/
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