WASHINGTON (AP) – President Donald Trump on Friday floated cutting tariffs on China to 80% ahead of a weekend meeting as he looks to de-escalate the trade war.
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Top U.S. officials are set to meet with a high-level Chinese delegation this weekend in Switzerland in the first major talks between the two nations since Trump sparked a trade war with stiff tariffs on imports.
At this point, it seems like its about how to reduce the tariff war while still making it appear like a victory. Trump thought he could get China to give in and lower their tariff rates but when they didn’t, it got to an unlivable high level but now it’s too late for Trump to back down without looking like the loser.