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Investing.com-- U.S. President Donald Trump said on Wednesday he will not consider lowering his steep, 145% trade tariffs on China, even as his administration prepares to engage in trade negotiations with Beijing.
Trump answered “no” when asked by a reporter at the White House if he was willing to scale back his tariffs to bring China to the negotiating table.
Trump’s comment comes just days before Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet their Chinese counterparts in Switzerland for trade talks.
Chinese officials said the meeting was taking place on Washington’s request, and that Beijing remained opposed to Trump’s tariffs.
Trump had earlier this week said he had no immediate plans to sign any trade deals, as his administration negotiates with several major trading partners, who face his reciprocal tariffs.
Washington announced on Tuesday that talks with China will take place in Switzerland. Although officials are expected to discuss trade, investors were doubtful that any progress would come from the meetings, given that both Washington and Beijing have struck largely hawkish stances over their recent tariff exchange.
China had imposed 125% tariffs on American goods in retaliation to Trump, and had signalled little intent to negotiate until Trump brought down his levies.