Trump Says 80% Tariff on China ‘Seems Right’
Many photographers and photography businesses have been feeling the impact of the Trump administration’s 145% tariff on China. Ahead of a weekend meeting between top American and Chinese trade officials, President Trump has tossed around the idea of an 80% tariff on China.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” Trump wrote earlier this morning on his social media platform, Truth Social — emphasis his.
He quickly followed that post up with another specific to Chinese tariffs:
“80% Tariff on China seems right! Up to Scott B.” Trump wrote.
Scott B. refers to Scott Bessent, the Trump administration’s Treasury chief, who has been in a leading role for ongoing trade negotiations.
Bessent said just over two weeks ago that 145% tariffs on China were unsustainable, as Reuters reports. Earlier this week, Bessent struggled — or refused — to explain how tariffs work when testifying before the House Appropriations Committee.
Bessent and U.S. Trade Representative Jamieson Greer are slated to meet their Chinese counterparts over the weekend in Geneva, Switzerland, in what The Associated Press reports is the highest-ranking meeting between the two countries “in months.”
While the 80% tariff rate that Trump floated this morning, whether solely as a negotiating tactic or a genuine suggestion, is significantly lower than the current 145% rate ravaging many businesses, including American ones, it is still an extremely high tariff.
As of today, while U.S. tariffs against China sit at 145%, Chinese tariffs on U.S. exports are 125%. Arguably, both tariffs cause significant harm to both American and Chinese consumers and businesses. While Trump had long said that the rates would not get any lower until China had made concessions, he said yesterday during an Oval Office appearance that he “could” lower the 145% tariff rate should this weekend’s talks go smoothly.
“We’re going to see,” Trump said on Thursday. “Right now, you can’t get any higher. It’s at 145, so we know it’s coming down.”
It’s an unpredictable, chaotic situation with many moving parts, including Trump’s desire to economically isolate China, incentivize production in the United States, accumulate tariff revenue to offset promised tax cuts, and juggle a struggling American economy.
Image credits: Header photo licensed via Depositphotos.
