Trump Administration Considers Major Tariff Rollback in Weekend China Talks

In a potential turning point for U.S.-China economic relations, the Trump administration is reportedly weighing a significant reduction in tariffs during high-level talks with Chinese officials this weekend in Geneva.

The move is aimed at easing the mounting economic strain both nations are beginning to feel due to the prolonged trade dispute.

The talks, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are scheduled to begin Saturday. According to sources familiar with the matter, the U.S. delegation is proposing an initial rollback of tariffs to below 60%—a level they believe Beijing may be open to reciprocating.

While no final agreement is expected immediately, negotiators are hopeful that progress over the weekend could lead to tariff cuts being implemented as early as next week.

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However, insiders caution that the discussions are likely to remain exploratory in nature. The primary focus will be airing each side’s concerns rather than reaching any immediate breakthroughs. The current climate remains fluid, meaning there’s no guarantee of immediate change in tariff levels.

Tariffs between the world’s two largest economies have surged to unprecedented levels, with the U.S. imposing duties as high as 145% on numerous Chinese imports. Even with a steep reduction, economists warn that it may take time before American consumers see relief. Higher prices and potential supply chain disruptions loom over the summer months.

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President Donald Trump himself hinted at imminent changes, saying on Thursday: “You can’t get any higher — it’s at 145%, so we know it’s coming down.” Speaking alongside announcements of a new U.S.-UK trade deal, Trump expressed optimism: “I think we are going to have a good weekend with China.”

In addition to tariffs, the U.S. is seeking the removal of China’s export restrictions on rare earth elements—materials essential for manufacturing electronics, electric vehicles, and defense systems. Industry leaders have raised alarms about potential disruptions stemming from limited access to these critical resources.

Progress has also been reported on tackling the fentanyl crisis. U.S. officials are working on launching a separate set of negotiations focused on curbing the export of Chinese precursor chemicals used to manufacture the deadly opioid. The synthetic drug has fueled a spike in overdose deaths in recent years, making it a priority issue in U.S.-China dialogues.

While some officials appear eager to signal a thaw in tensions, the White House is staying tight-lipped. Both the Treasury Department and the Office of U.S. Trade Representative Jamieson Greer—who is also attending the talks—declined to comment.

Meanwhile, White House spokesman Kush Desai downplayed speculation around tariff targets, stating: “The administration’s only goal with these talks is to advance President Trump’s America First economic agenda toward fair and reciprocal trade relations. Any discussion about ‘target’ tariff rates is baseless speculation.”

With global markets closely watching the outcome of this weekend’s negotiations, the world is hoping for signs of de-escalation in what has become a costly trade war. Even a modest rollback in tariffs could mark a crucial step toward stabilizing U.S.-China economic ties.