WASHINGTON — President Donald Trump is considering a significant reduction in tariffs on Chinese imports, proposing to lower the current rate of 145% to 80%. This potential shift comes ahead of discussions set for the weekend between U.S. officials and a high-level Chinese delegation in Switzerland, marking the first substantial talks since the trade war escalated.

The upcoming negotiations are crucial for both nations, especially as concerns grow in U.S. markets regarding the impact of these tariffs on consumer goods. Amid increasing pressure, Trump expressed his thoughts on social media, suggesting that the proposed 80% tariff would be beneficial. He emphasized the need for China to open its markets, stating that the current closed markets are no longer viable.

U.S. Treasury Chief Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet their Chinese counterparts in Geneva, indicating the seriousness of this engagement. This dialogue comes as prices for various consumer goods continue to rise, putting additional strain on U.S. households.

China has been notably affected by the tariffs imposed by the Trump administration. Initially announced as part of a strategy dubbed “Liberation Day,” these tariffs prompted retaliatory measures from Beijing, which has implemented its own tariffs of 125% on U.S. goods. The back-and-forth has resulted in escalating tensions and significant economic ramifications on both sides.

Previously, Trump had indicated that he would not consider lowering tariffs without substantive discussions. However, in a recent statement from the Oval Office, he hinted at a possible reduction if the talks yield positive results. “We’re going to see,” he remarked, acknowledging the unsustainable nature of the current tariff rate.

The president’s economic team has recognized that maintaining a 145% tariff is impractical, understanding that such high tariffs functionally inhibit trade. However, reconciling the administration’s goals poses challenges. While Trump seeks substantial tariff revenues to support his tax cuts, he simultaneously aims to enhance market access for U.S. goods, which may necessitate lower tariffs.

Moreover, the president’s strategy to isolate China through tariff measures complicates the establishment of enduring trade alliances with other partners, as those tariffs could hinder collaborative efforts. As the weekend meeting approaches, the outcomes may significantly influence trade dynamics between the two global powers and the economic landscape domestically.