The US President said the 145% import tax imposed on China would be reduced significantly if the two countries reached a trade deal, but would not go to zero.
Speaking to reporters in the Oval Office on April 22, Mr. Trump said that 145% was a "very high tax" and would not remain at the current level. He expressed optimism that a trade deal with China could "substantially reduce" the tax.
"The new rate is not anywhere near that number anymore, but it is not zero," he affirmed. The US President also emphasized that he did not feel the need to be "tough" and "will be nice" to China.
Mr. Trump said that China must reach a deal if it wants to do business in the US. "If they don't do it, we will make a deal," he said.
After many rounds of tariffs, the total US import tax applied to all Chinese goods has now reached 145%. Some products are even subject to 245%. China also responded with a 125% tax on US goods. Trade tensions between the world's two largest economies have shaken the world in recent months.
Reuters quoted a close source saying that US Treasury Secretary Scott Bessent believes that trade tensions with China will cool down. However, he revealed that the two countries have not yet officially started negotiations.
White House Press Secretary Karoline Leavitt revealed that more than 100 economies have contacted the US to negotiate, after Mr. Trump announced reciprocal tariffs earlier this month. Of these, 18 partners have proposed agreements. Officials from Japan, India, South Korea, the European Union, Canada, and Mexico have all held negotiations with the US.
With China, Leavitt said the US administration is “doing a great job of moving forward with a potential deal and setting the stage” for it.
(according to USA Today, Reuters)