- President Trump signaled a China trade deal could be in the works.
- The first Chinese goods subject to a 145% tariff are now arriving at U.S. ports.
- U.S.-China trade talks are set to begin this weekend in Switzerland.
On the cusp of U.S.-China trade talks scheduled to take place this weekend in Switzerland, President Donald Trump took to social media Friday morning with a suggestion that he’s OK with lowering the levy on Chinese goods.
The trade banter comes as the first freight ships carrying Chinese goods subject to the current 145% tariff arrive at U.S. ports.
“80% Tariff on China seems right! Up to Scott B.,” Trump posted to Truth Social on Friday morning, referring to Treasury Secretary Scott Bessent
Bessent and U.S. Trade Representative Jamieson Greer will meet with a Chinese delegation in Geneva on Saturday to begin the first high-level talks aimed at easing tensions over an escalating U.S.-Sino trade war.
In the meantime, some 12,000 freight containers are arriving at West Coast shipping ports, the first wave of Chinese import goods that will be subject to the new tariff rate.
A total of seven vessels that left China after the announcement of the 145%-plus tariffs are currently at the nation’s two busiest ports for container traffic from Asia, according to vessel arrivals tracked and aggregated by MarineTraffic, per a report from CNBC. An additional five freight ships are expected to arrive in the coming days.
What goods are on the Chinese freighters?
U.S. companies with goods on the incoming freighters include Amazon, Home Depot, Ikea, Ralph Lauren and Tractor Supply and span a wide range of consumer items.
Here’s a snapshot of some of the goods in those containers, according to CNBC:
- Ikea furniture
- Speedo swim goggles and swim caps
- Procter & Gamble tissue holders
- Samsung printed circuit boards, microwaves and refrigerator parts
- Ralph Lauren sweaters, cashmere and blazers
- Dr. Martens Airwair footwear
- LG washing machines, air conditioners, ranges, refrigerators and dishwashers
- Bauer Hockey sporting goods
- Lenovo computer parts
- Auto parts for Valeo North America
- Headsets and computer keyboards for Polaris
The ongoing trade dispute has greatly impacted the flow of freighters transporting Chinese goods with the volume of U.S.-bound cargo from China down by about 50% in April, according to Hong Kong freight forwarder EasyWay Airfreight.
Trump says a China trade deal could be coming
In comments to reporters following Thursday’s announcement of a new UK-U.S. trade agreement, Trump signaled that he was optimistic about negotiating a trade deal with China.
“China as you know has a tremendous trade surplus with us and we just can’t have that,” Trump said. “Scott (Bessent) is going to be going to Switzerland, meeting with China and they very much want to make a deal.”