US President Donald Trump announced that customs tariffs on Chinese goods will be lowered from their current levels but will never be reduced to zero. Speaking at the White House, Trump stated, “145% is very high, and it won’t be that high. It won’t be anywhere near that high. It’ll come down substantially, but it won’t be zero.”
Trump previously indicated that while the 145% duty might be lowered, it was unlikely to increase further. He acknowledged that the economic impact of high tariffs would continue to be felt in the United States for some time but expressed optimism about the country’s economic performance during this “transition period.”
Earlier this month, Trump introduced universal tariffs of 10% on imports from 185 countries, with additional individual tariffs coming into effect later. While he temporarily suspended some of these duties to allow trade negotiations, tariffs on Chinese goods were raised to a combined total of 145%, factoring in a 20% penalty related to fentanyl smuggling concerns.
