Donald Trump is playing tough with China. That has them worried beyond belief.
And China is shaking in their boots after what Trump just warned them about.
Trump Holds Line on Tariffs Ahead of US-China Trade Summit
President Donald Trump made it clear on Wednesday that he has no intention of easing the hefty 147.6% tariffs on Chinese imports to smooth the path for upcoming trade negotiations. His stance sets the stage for a tense meeting this weekend in Switzerland, where Treasury Secretary Scott Bessent will face off with Chinese Vice Premier He Lifeng.
During an Oval Office exchange, a reporter pressed Trump on whether he’d consider dialing back the tariffs to bring China to the table. “China says in order to have substantive negotiations, you have to bring down the 145% tariffs. Are you open to pulling back your tariffs in order to get China to the negotiating table?” the journalist asked.
“No,” Trump replied without hesitation, brushing aside suggestions that the US might soften its position. This comes even as Bessent hinted on Tuesday that his discussions with He Lifeng would center on “de-escalation” of the escalating trade war, which has seen both nations slap steep levies on each other’s goods.
Both Washington and Beijing have been keen to shape the narrative around the talks, with each claiming the other reached out first. On Fox News, Bessent struck a conciliatory tone, suggesting a mutual tariff reduction could benefit both sides.
“This isn’t sustainable, as I said before, especially on the Chinese side — and, you know, 145%, 125% is the equivalent of an embargo. We don’t want to decouple — what we want is fair trade,” he said.
China, however, remains steadfast. Foreign Ministry spokesman Lin Jian reiterated Beijing’s position on Tuesday, insisting that negotiations hinge on the US lowering its punishing tariffs. “There isn’t any change in China’s position,” he stated.
“This tariff war is started by the US. If a negotiated solution is truly what the US wants, it should stop threatening and exerting pressure, and seek dialogue with China on the basis of equality, respect and mutual benefit.”
The tariffs, which have climbed from an average of 21% when Trump took office to 147.6% today, according to the Peterson Institute for International Economics, have already reshaped trade flows.
US ports are feeling the pinch, with Los Angeles and Long Beach—the nation’s busiest and third-busiest ports—reporting a 44% drop in docked vessels for the week of May 4 compared to last year. Retailers are sounding alarms over potential shortages, warning that store shelves could soon sit empty.
A recent report from Apollo Global Management paints a grim picture, predicting a recession this summer, widespread goods shortages, and layoffs in trucking and retail. Yet Trump has downplayed these concerns.
On April 30, he shrugged off warnings of bare shelves, saying, “You know, somebody said, ‘Oh, the shelves are going to be empty’. Well, maybe the children will have two dolls instead of 30 and maybe the two dolls will cost a couple of bucks more than they would normally.”
China remains a critical trading partner for the US, ranking among the top three alongside Canada and Mexico. Last year, the US imported $438.9 billion in goods from China while exporting $143.5 billion, according to the Office of the US Trade Representative.
With economic stakes this high, the outcome of the Switzerland talks could ripple through global markets.
As Bessent prepares to meet his Chinese counterpart, Trump’s unwavering tariff stance signals that any path to de-escalation will be fraught with challenges.
For now, both nations appear locked in a high-stakes game of economic brinkmanship.
Stay tuned to The Federalist Wire.
