2025-05-10
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and android auto with the bloomberg business app listen on demand wherever you get your podcasts or watch us live on youtube a trade team heading over to switzerland uh today for trade talks uh with china and president trump out today with a tweet saying 80 china tariff quote seems right ahead of the talks so we'll see how that plays out sean donna joins us he is senior economics writer for bloomberg news he's based down in washington dc Seems right.
I don't know.
I'm not sure where that number came from here.
Sean,
what are expectations going into some of these trade discussions with the Chinese in Switzerland?
Look,
the administration from President Trump on down has made very clear they want to do some de-escalation this weekend and that they want to bring.
tariffs down from the 145% plus level that they're at.
We had heard in recent days below 60% was something that they're targeting.
The president's out with 80%.
But look, the thing to keep in mind here is even if we get what would be a dramatic de-escalation,
dramatic reduction from 145% to 80% or 60%, Those levels are still incredibly high,
and they're still going to be prohibitive for a lot of trade.
And the folks at Bloomberg Economics have been running the numbers,