Credit...Haiyun Jiang for The New York Times
Trump Says U.S. Won’t Drop Tariffs Ahead of China Talks
The Treasury secretary and trade representative plan to meet with Chinese officials this weekend to discuss trade and economic matters.
by https://www.nytimes.com/by/ana-swanson · NY TimesPresident Trump said Wednesday that he would not lower high tariffs on goods from China ahead of talks this weekend between U.S. and Chinese officials, despite requests from Beijing to do so.
Asked by reporters in the Oval Office if he would reduce tariffs on Chinese exports — which are now at a minimum of 145 percent — to initiate talks, Mr. Trump was succinct: “No.”
He also implied that the Chinese had been the ones to request trade talks, contradicting statements by China that the two sides were meeting at the request of the Americans. “I think they ought to go back and study their files,” the president said.
Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, plan to meet with Chinese officials on Saturday and Sunday in Geneva to discuss trade and economic matters. The countries have been locked in a standoff. High tariffs have been hurting businesses in both countries, but neither government has wanted to look like it is conceding to the other by requesting a meeting.
Chinese officials say they have little clarity from the U.S. side about which policy changes could mollify Mr. Trump, and it is unclear whether the two countries will strike any kind of trade deal.
On Wednesday, Mr. Trump said China would need to “stop fentanyl from coming in,” and he blamed former President Joseph R. Biden Jr. for not upholding an agreement that Mr. Trump signed with China during his first term.
Mr. Trump spoke from the Oval Office as he swore in David Perdue, the new ambassador to China. A former senator from Georgia, Mr. Perdue is also a former chief executive of Reebok and Dollar General, and the business community has viewed him as someone who could be a moderating force on the U.S.-China relationship.
“I picked him a long time ago but it just happened to come due on a pretty important date,” the president said.
More on Trump’s Tariffs
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- Chinese Battery Giant’s Debut: Tensions between China and the United States pushed Contemporary Amperex Technology Ltd., the world’s biggest maker of batteries for electric cars, to shut U.S. onshore investors out of its share sale.
- Trump Berates Companies: President Trump is telling some of the nation’s largest companies that they should eat the cost of his tariffs. Economists and populists on the left and right disagree on the necessity of passing along the cost increases.
- Fear in Canada: President Trump’s tariffs on auto parts are already causing job losses in Windsor, Ontario, the heart of an industry that makes components for vehicles bound for the United States.
- Ammo Makers in Balkan Valley: Companies that make ammunition in the Bosnian city of Gorazde fear they may not survive the tariffs imposed on the goods that they send to their biggest market — the United States.
- Movie Tariffs: Hollywood offers a service, and services are what really drive the U.S. economy. President Trump’s proposed tax could set off a second, and more damaging, trade war.