WASHINGTON: US President Donald Trump signalled on Friday (May 9) that he could lower sky-high tariffs on Chinese imports, as the rival superpowers prepare for trade talks in Switzerland over the weekend.

"80% Tariff on China seems right!" Trump wrote on his Truth Social platform. Levies on the Asian manufacturing giant are currently 145 per cent, with cumulative duties on some goods reaching a staggering 245 per cent.

In retaliation for the steep tariffs from Washington, China has slapped 125 per cent levies on US goods.

Trump added that it was "Up to Scott B." - US Treasury Secretary Scott Bessent - who will confer with China's Vice Premier He Lifeng this weekend in Geneva to try to cool the conflict roiling international markets.

US Trade Representative Jamieson Greer will also attend the talks.

"The President still remains with his position that he is not going to unilaterally bring down tariffs on China. We need to see concessions from them as well," White House Press Secretary Karoline Leavitt told reporters later Friday.

"As for the 80 per cent number, that was a number the president threw out there. And we'll see what happens this weekend," she added. 

The cripplingly high duties amount to an effective trade embargo between the world's two largest economies, with private shipping data already pointing to a sharp slowdown in goods flowing from China to ...