US President Donald Trump on Friday floated cutting tariffs on China from 145 per cent to 80 per cent ahead of a weekend meeting among top US and Chinese trade officials as he looks to deescalate the trade war. Top US officials are set to meet with a high-level Chinese delegation in Switzerland in the first major talks between the two nations since Trump sparked a trade war with stiff tariffs on imports.

“80 per cent Tariff on China seems right! Up to Scott B,” Trump wrote on his social media account on Friday morning, referring to Scott Bessent, his Treasury chief, who has been a point person on trade. The Republican President also called on China to open its markets to the US, writing: “WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!”