U.S. President Donald Trump has hinted at the possibility of reducing the 145% punitive tariffs currently imposed on Chinese goods, signaling a potential softening of the long-running trade tensions between Washington and Beijing. The comments come as both countries prepare for substantive negotiations this weekend in Switzerland — the first high-level meeting in more than two months.

Speaking from the White House on Thursday while unveiling a new U.S.–U.K. trade agreement, Trump expressed optimism about the upcoming talks, calling them “very friendly” and suggesting that both nations were ready to work toward a more cooperative trade relationship.

“You can’t get any higher. It’s at 145%, so we know it’s coming down,” Trump said, referring to the steep tariffs in place. “I think it’s going to be substantive. China wants to do something, and look, they have to at this point.”

A Possible Turning Point in U.S.–China Trade War

Trump’s remarks reflect a shift in tone after months of stalled diplomacy and terse exchanges between the world’s two largest economies. Relations have been especially strained by the wide-ranging tariff war, which has disrupted global supply chains, rattled financial markets, and strained trade-dependent sectors.

This weekend’s negotiations in Switzerland will include U.S. Treasury Secretary Scott Bessent, chief trade negotiator Jamieson Greer, and China’s top economic official He Lifeng. Both parties hope the neutral venue will facilitate a reset in dialogue that could lead to phased de-escalation of tariffs and more balanced trade practices.

FILE PHOTO: Chinese President Xi Jinping and Foreign Minister Wang Yi attend a meeting with Vietnam’s National Assembly Chairman Tran Thanh Man (not pictured) during a two-day state visit, in Hanoi, Vietnam, April 14, 2025. REUTERS/Athit Perawongmetha/Pool/File Photo

Trump Open to Reducing Tariffs — If Talks Go Well

When asked directly whether he would consider lowering tariffs if negotiations were successful, Trump replied, “It could be.” He emphasized that China has more to gain from the talks than the U.S., given what he called Beijing’s “tremendous trade surplus” with Washington.

“I think we’re going to have a good weekend with China,” Trump said. “They have a lot to gain. I do think they have far more to gain than we do, in a sense.”

While no deal is expected to be finalized during this weekend’s talks, officials describe the meetings as a crucial first step toward resolving a trade conflict that has defined U.S.–China relations for much of the past decade.

Possible Presidential Communication with Xi Jinping

When asked whether he might speak with Chinese President Xi Jinping following the talks, Trump said, “I might, yeah, sure.” Despite acknowledging long-standing disagreements with Xi — including over trade and the origins of the COVID-19 pandemic — Trump has consistently described his personal rapport with the Chinese leader as respectful.

U.S. President Donald Trump looks on as he gives remarks outside the West Wing at the White House in Washington, D.C., U.S., May 8, 2025. REUTERS/Kent Nishimura

Broader Trade Strategy in Motion

Trump’s administration has been actively working to rebuild international trade partnerships, including the newly announced agreement with Britain, and a general pause on reciprocal tariffs with most countries — except China.

While China remains a sticking point in Trump’s broader trade agenda, Thursday’s comments suggest a willingness to ease tensions in favor of a mutually beneficial outcome.