President Donald Trump signaled the US to ease Chinese tariffs from his oval office Tuesday evening, saying that “a big fall” would not be completely eliminated.
On April 2nd, Trump announced mutual tariffs in several countries. When asked about tariffs on foreign countries on Tuesday, Trump announced higher rates in countries like China due to trade barriers to the US, saying that the 145% hit will not last forever.
“I’m sure 145% is very high, not too high, not too high,” Trump said. “It went there. We were talking about fentanyl. Here, various elements were built to 145. No, it’s not that high.”
Following Trump’s initial tariff announcement, the US and China took part in the tariff war, with China responding by imposing its own sudden tariffs. By April 9, Trump said he would raise China’s tariffs from 104% to 125% after the country refused to lift retaliation measures while the US implements a 90-day suspension on tariffs in other countries. (Related: Brithume says we have something “in our favour” to outperform China in the trade war)
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“It’s going to drop significantly, but it won’t be zero. It used to be zero,” Trump said. “We were just destroyed. China didn’t go on board – it didn’t happen – it won’t happen. We’ll be very good with China.
By April 10, the White House said Trump had announced that the 125% tariff was actually 145% for all Chinese imports. According to To the New York Times. The administration said 125% would be added above the 20% tariffs already announced on goods from China, the outlet reported.
“That’s not going to happen, but they’re trying to do very well. I think they’ll be happy, and I think we’re going to work together very happy, ideally.
In a speech Tuesday, U.S. Treasury Secretary Scott Bescent said he hopes for a “escalation” in the tariff war between the US and China, adding that the ongoing conflict is unsustainable in the long term. According to To the Associated Press.
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