May 9 (UPI) -- President Donald Trump on Friday suggested lowering tariffs imposed on China as he hinted at additional trade deals after reaching an agreement with Britain on Thursday.
In a post on his Truth Social platform, Trump said that an 80% tariff on China "seems right" but said the decision would ultimately be up to Treasury Department Secretary Scott Bessent.
Trump also urged China to "open up its market" to the United States in another post.
"Closed markets don't work anymore," Trump said.
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A drop from the current 145% tariff to 80% would be considerable, but still could interfere with trade, especially as other countries pay far less and the United States announced a deal with Britain Thursday that lowers the U.K. baseline tariff to 10%.
Trump did not make clear whether 80% is a point of negotiation or set goal.
During a press conference on Wednesday, Trump simply replied "No," when asked if he would reduce tariffs on China.
In the meantime, there has been a serious drop in the movement of goods from China to the United States since current tariffs were instituted. According to data from the Port of Los Angeles, its Import Volumes are down over 12% from last week, and down more than 32% from this point last year. This could result in shortages of certain goods or price hikes in the near future.
Trump also indicated that he had "many Trade Deals in the hopper, all good (GREAT!) ones!"
Trump's posts came as Bessent departed for trade talks in Switzerland where he was set to "meet with the lead representative on economic matters from the People's Republic of China."
