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US President Donald Trump on Friday signalled a possible reduction in tariffs on Chinese goods — from 145 per cent to 80 per cent — ahead of a high-level meeting with Chinese officials in Switzerland this weekend, marking a potential thaw in the long-standing trade war between the world’s two largest economies.

Posting on his social media platform, Trump wrote, “80% Tariff on China seems right! Up to Scott B,”  referencing Treasury chief Scott Bessent, a key figure in his trade strategy. Trump also urged China to open its markets to US goods, stating, “WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”

The Geneva meeting will feature US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent in talks with Chinese Vice Premier He Lifeng. This is the most senior engagement between the two sides since Trump ramped up tariffs, triggering a tit-for-tat response from Beijing. Currently, US tariffs on Chinese goods stand at 145 per cent, while China imposes 125 per cent on US imports.

Despite the proposed cut, an 80 per cent tariff would remain significantly high, potentially continuing to disrupt global supply chains and fuel inflation. Experts also note that the new rate would still exceed the 74 per cent tariff Trump unveiled during his “Liberation Day” event on April 2.

The US administration faces a dilemma: Trump wants to maintain high tariff revenues to offset his income tax cuts, yet also seeks improved access for American goods in global markets — something that likely requires easing trade restrictions. His trade strategy has come under scrutiny for alienating traditional allies while failing to build a cohesive front against China.

Adding to the complexity, part of the 145 per cent tariff — a 20 per cent slice — is linked to US accusations that China hasn’t done enough to curb the export of chemicals used to produce fentanyl. This issue is expected to remain off the table during this weekend’s talks.

Trump, speaking in the Oval Office on Thursday, hinted at flexibility. “We’re going to see,” he said. “Right now, you can’t get any higher. It’s at 145, so we know it’s coming down.”

Whether Trump follows through on lowering tariffs remains uncertain. Analysts suggest that for Beijing, any US offer must be credible and enforceable — and not simply another reversal in what has become a pattern of public bargaining.

(With inputs from AP)

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