Trump Signals Tariff Rollback on China, Celebrates ‘Historic’ UK Trade Deal

Trump proposes 80% tariff on Chinese goods ahead of Geneva talks, calls new UK pact a model for “fair and reciprocal” trade policy

Washington DC [US], May 9: Former US President Donald Trump has suggested he may significantly reduce the current 145% tariff on Chinese goods, proposing an 80% rate instead, as high-level trade talks between the US and China prepare to resume in Geneva.

Taking to Truth Social, Trump wrote, “80% Tariff on China seems right! Up to Scott B.” — referring to Treasury Secretary Scott Bessent, who, along with US Trade Representative Jamieson Greer, is set to meet Chinese counterparts for critical negotiations.

In another post, Trump stated, “China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore.”

According to NBC News, Trump’s suggestion marks a potential recalibration of his earlier hardline trade policies. During his tenure, he initially slapped a 20% tariff on Chinese imports, later escalating them to 125%, citing China’s inaction on fentanyl trafficking.

Trump Announces UK Trade Deal

Separately, Trump announced a landmark trade deal with the United Kingdom, which he described as the first “Fair, Open, and Reciprocal” trade pact of its kind. According to the former president, the agreement is expected to generate $6 billion in external tariff revenue and $5 billion in new export opportunities for American producers.

In a statement posted on Truth Social, Trump said,

“Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal — something our past Presidents never cared about. Together with our strong ally, the United Kingdom, we have reached the first, historic trade deal since Liberation Day.”

The agreement includes the creation of an Aluminum and Steel Trading Zone and a secure pharmaceutical supply chain, which Trump said would also bolster national security.

He added,

“This deal shows that if you respect America, and bring serious proposals to the table, America is open for business.”

The new UK agreement follows Trump’s broader trade doctrine of “reciprocal tariffs,” which were implemented on April 7 and paused briefly on April 9. The universal 10% tariffs under the policy currently apply to over 100 countries, with additional nation-specific rates pending.