Market Chatter: Trump Holds Firm on Tariffs Ahead of China Talks
US President Donald Trump is firm on maintaining tariffs on Chinese goods unless concessions are made by China, as reported by Reuters. Ahead of talks in Switzerland, Trump suggested a possible reduction in tariffs but emphasized that any deal must benefit America. Analysts, including those from Oxford Economics, express skepticism about significant breakthroughs, predicting only modest relief for global trade tensions. The inclusion of a top Chinese security official in the talks raises concerns over fentanyl trafficking, a key issue for Trump.
US President Donald Trump is firm on maintaining tariffs on Chinese goods unless China offers concessions, Reuters reported May 9.
This comes after Trump suggested a possible reduction to 80% from 145% ahead of talks in Switzerland. "That was a number the president threw out there, and we'll see what happens this weekend," the report cited Press Secretary Karoline Leavitt as saying.
Meanwhile, China's inclusion of a top security official in the talks highlights concerns over fentanyl trafficking, a key issue for Trump, Reuters wrote.
Trump hinted at possible progress but stressed any deal must benefit America. Analysts remain skeptical of a major breakthrough, with Oxford Economics predicting only modest relief for global trade tensions, according to the report.
"While talks this weekend between US and Chinese officials may yield some progress, expectations for a significant reduction in tariffs seem unwarranted," Reuters cited Nancy Vanden Houten, lead US economist at Oxford Economics, as saying.
Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
