U.S. expected to drop plans for 100% tariffs on China

The U.S. government is likely to abandon its plan to impose 100% tariffs on Chinese goods.

According to Ukrinform, U.S. Treasury Secretary Scott Bessent said this in a comment, cited by Reuters.

Bessent noted that a "very substantial framework" had been reached with Chinese Vice Premier He Lifeng. The agreements, achieved in Malaysia, will allow U.S. President Donald Trump and Chinese President Xi Jinping to discuss further trade cooperation during their talks next week.

The agenda reportedly includes efforts to achieve more balanced trade between the U.S. and China, China's purchase of American and other agricultural products, and addressing the U.S. fentanyl crisis.

When asked whether he expected the U.S. to follow through on Trump's threat to impose 100% tariffs on Chinese imports, Bessent replied negatively.

"No, I'm not, and I'm also anticipating that we will get some kind of a deferral on the rare earth export controls that the Chinese had discussed" he said.

As Ukrinform previously reported, amid escalating trade tensions between Washington and Beijing, Bessent accused China of "financing war."

Photo: Office of the President