Trump, in a major concession, says that the price on China should be 80%, but he will leave to bessent

CNN –

Friday, President Donald Trump established negotiation conditions for his first discussions with China, which should take place in Geneva this weekend.

In a series of messages on Truth Social, Trump seemed to expose his requests and concessions for the meeting between the American secretary of the Treasury Scott Bessent, the American representative Jamieson Greer and their Chinese counterparts. Trump said China should import more American goods and in return, he thinks that the United States should reduce its 145% tariff on most 80% Chinese products.

China should open its market in the United States would be so good for them !!! The closed markets no longer work !!!, posted Trump.

The 80% price on China looks right! Until Scott B, Trump said in a separate article.

The concession would be a spectacular rupture of the current reality, which sent Chinese expeditions to the United States plunging by 60%, according to Ryan Petersen, CEO of Flexport, a logistics and freight transfer broker.

Even if the prices fall at 80%, it is not clear that this would be enough to convince American companies to import Chinese products. Economists said 50% was the brand or break -up threshold for the return of somewhat normal business between the two countries.

Meanwhile, the damage is already done. The price increases begin and analysts of Goldman Sachs said Thursday that a key measure of inflation would actually double to 4% by the end of the year due to the trade war. Even if the prices went to 0% this weekend, the United States would still have price increases and shortages, at least temporarily, because so little entered the American ports.

China said Friday exports to the United States dropped 21% last month before the effects of prices settled.

Trump said he considered a good thing. On Friday, in the Oval Office, Trump said that the reduction of expeditions from China means that the United States no longer loses a frequent although very inaccurate refrain of the president who wrongly assimilates a commercial imbalance with the losses.

Trump and Bessent both said that the high price on China and the Chinese price at 125% on most American products was not durable and should be lowered.

However, Trump administration officials are trying to reduce expectations concerning the potential results of this weekend for talks in Geneva, according to senior administration informed of the plans. They supervise talks like a good first step, but will not result in an agreement, or even a framework like that of the United Kingdom that Trump announced in the oval office to a lot of brass band on Thursday.

Despite Trump's apparent opening, director of the Blanche House National Economic Council, Kevin Hassett, told CNN on Friday that the price would not be lowered before negotiations.

I think everything will happen while the talks occur, not before, he said in the White House. It will be released tomorrow. It is a negotiation.

Hassett added that Bessent and Greer enter negotiations with an open mind, but said that the news of any change in the prices will only come after talks.

Bessent said on Fox News on Tuesday that discussions were to start the thaw process in a frozen commercial relationship.

My feeling is that it will be a question of de-escalation, not the agreement on the big trade, but we must defuse before we can move forward, he said. You know, 145% [tariffs]125%is the equivalent of an embargo. We don't want to decouple, what we want is a fair trade.

Meanwhile, the aggressive commercial Americas of the Trade War have sent the opposite of the American economy. The report of the past few weeks on the gross domestic product, the widest measure of the American economy, has shown the first contraction of the Americas since the beginning of 2022, because an otherwise healthy economy has been driven by companies storing goods to be ahead of prices. And it was the first quarter before the most aggressive trade policy even took effect.

Despite increasingly disastrous warnings and economic disorders, the United States and China remain distant in a real agreement. Even with the talks that should start this weekend, Bessent said that he could take two to three years for trade to normalize with China.

This story has been updated with additional developments and context.

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