Trump says US prepared to reconsider certain tariffs on China
Washington has implemented 145% tariffs on Chinese goods amid an escalating trade conflict with Beijing. US President Donald Trump has indicated a possible reduction in trade tensions with China, revealing plans to significantly lower tariffs...
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Washington has implemented 145% tariffs on Chinese goods amid an escalating trade conflict with Beijing.
US President Donald Trump has indicated a possible reduction in trade tensions with China, revealing plans to significantly lower tariffs on goods from the country. He cautioned, however, that “it won’t be zero.”
In a sweeping move dubbed ‘Liberation Day,’ Trump dramatically increased tariffs on Chinese imports to an astonishing 145%. This decision intensified the trade dispute between the two largest economies in the world, despite rising concerns regarding its global economic repercussions.
On Tuesday, Trump appeared to revise his stance, stating, “We’re going to be very good to China, [I] have a great relationship with [Chinese] President Xi [Jinping].” He noted, “145% is very high and it won’t be that high. It’ll come down substantially. But it won’t be zero.”
Earlier that day, Treasury Secretary Scott Bessent reportedly described the current direction of the trade war as unsustainable, sparking hopes for a potential policy shift.
The tariffs on China are part of Trump’s extensive tariff strategy aimed at over 90 countries, which seeks to address what he considers unfair trade practices. While tariff increases have been paused for most nations for 90 days, China was not included in this pause. In retaliation, Beijing has enacted 125% tariffs on US goods and restricted key exports.
As tensions escalate, China has increased its diplomatic efforts, engaging with officials from the EU, Japan, and South Korea.
In response to inquiries regarding Trump and Bessent’s remarks, the Chinese Foreign Ministry urged Washington to end its “threats and coercion” and to pursue negotiations based on “equality, mutual respect and reciprocity.”
Spokesperson Guo Jiakun asserted that applying “maximum pressure” will not yield a successful deal, stating, “it simply won’t work.” He emphasized that China’s stance is “very clear,” declaring, “We do not want to fight, but we are not afraid… we’ll fight till the end.” Nevertheless, he affirmed that the “door is wide open” for negotiations.
The escalating trade tensions between the US and China, along with broader American tariffs, have contributed to global economic uncertainty and turmoil in the financial markets.
On Tuesday, the IMF revised its global growth forecast downward, citing a “significant slowdown” attributed to uncertainties linked to tariffs.
Aarav Patel for TROIB News
US President Donald Trump has indicated a possible reduction in trade tensions with China, revealing plans to significantly lower tariffs on goods from the country. He cautioned, however, that “it won’t be zero.”
In a sweeping move dubbed ‘Liberation Day,’ Trump dramatically increased tariffs on Chinese imports to an astonishing 145%. This decision intensified the trade dispute between the two largest economies in the world, despite rising concerns regarding its global economic repercussions.
On Tuesday, Trump appeared to revise his stance, stating, “We’re going to be very good to China, [I] have a great relationship with [Chinese] President Xi [Jinping].” He noted, “145% is very high and it won’t be that high. It’ll come down substantially. But it won’t be zero.”
Earlier that day, Treasury Secretary Scott Bessent reportedly described the current direction of the trade war as unsustainable, sparking hopes for a potential policy shift.
The tariffs on China are part of Trump’s extensive tariff strategy aimed at over 90 countries, which seeks to address what he considers unfair trade practices. While tariff increases have been paused for most nations for 90 days, China was not included in this pause. In retaliation, Beijing has enacted 125% tariffs on US goods and restricted key exports.
As tensions escalate, China has increased its diplomatic efforts, engaging with officials from the EU, Japan, and South Korea.
In response to inquiries regarding Trump and Bessent’s remarks, the Chinese Foreign Ministry urged Washington to end its “threats and coercion” and to pursue negotiations based on “equality, mutual respect and reciprocity.”
Spokesperson Guo Jiakun asserted that applying “maximum pressure” will not yield a successful deal, stating, “it simply won’t work.” He emphasized that China’s stance is “very clear,” declaring, “We do not want to fight, but we are not afraid… we’ll fight till the end.” Nevertheless, he affirmed that the “door is wide open” for negotiations.
The escalating trade tensions between the US and China, along with broader American tariffs, have contributed to global economic uncertainty and turmoil in the financial markets.
On Tuesday, the IMF revised its global growth forecast downward, citing a “significant slowdown” attributed to uncertainties linked to tariffs.
Aarav Patel for TROIB News
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