This weekend, ahead of trade negotiations with China in Switzerland, the Donald Trump administration is predicted to significantly reduce tariffs on China.
On the 8th (local time), Bloomberg News reported, citing multiple anonymous sources, that the Trump administration is working to lower tariffs to below 60% to ease tensions with China and reduce economic impact.
If progress is made in negotiations, actual reduction measures could be implemented as early as next week.
Sources familiar with the preparation for the negotiations noted, "The talks are likely to be more of a preliminary battle to express grievances rather than a serious problem-solving session."
At the same time, they pointed out the uncertainty of the situation, adding, "There is no guarantee that tariffs will be rapidly reduced."
According to them, the U.S. is prioritizing the lifting of China's restrictions on rare earth exports in this negotiation. As the export of rare earths, which are key materials for advanced weapons, is blocked, the U.S. industry is experiencing supply disruptions.
Progress has reportedly already been made on the fentanyl issue.
Sources told Bloomberg that separate negotiations to prevent the export of raw materials used in fentanyl production from China could soon take place.