US President Donald Trump said it was eventually opened by a restriction of tariffs to China, and acknowledged that current rates were so steep that they had effectively stopped trade between the two largest economies in the world.
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Under his administration, they reached up to 145 percent on Chinese imports, which made China retreat with tariffs up to 125 % for American goods. The escalation tension of the store has upset financial markets and increases prices for basic items such as production equipment, clothing and toys that many Americans depend on, Bloomberg informed.
“At some point, I will reduce them, because otherwise you could never trade with them and they want to trade,” Trump said on Friday and broadcast on Sunday at “Meet the Press” with Kristen Welker.
Trump also pointed out the recent economic struggles in China and quoted data from the official index of production purchases managers, which showed that factory activity has fallen into its steepest contraction since 2023.
Bloomberg announced that new export orders have fallen to the lowest level since December 2022, with the sharpest decline since April of the same year, when Shanghai was under a complete pandemic lock.
Trump also appreciated some statements that China recently made as “positive”, and at the same time reiterated that any agreement between the two countries would have to be “fair”.
Here’s what China said
China said on Friday that it has assessed the possibility of business interviews with the US, because Trump’s tariffs were announced last month, the first sign that negotiations could begin between the two parties.
“China is currently evaluating this,” the ministry’s statement said. US stocks increased on Friday after these signals from Beijing.
On Sunday, Trump told reporters on board Air Force One that he was not planning to talk to Chinese President Xi Jinping this week and said both sides “talking about different things”.
At some point I will reduce them, because otherwise you could never trade with them.
He added that Washington is in business discussions with several countries, including China, and stressed that he is looking for a “fair trade”, repeating its claim that China has “torn us for many years”.
(With the entry from agencies)
(Tagstotranslate) US President Donald Trump
