Trump Signals Step Back On China Tariffs, Says They’ll ‘Come Down Substantially’
President Donald Trump signaled Tuesday evening from the Oval Office that the U.S. will ease tariffs on China, saying they’ll “come down substantially” but won’t be eliminated entirely.
On April 2, Trump announced reciprocal tariffs on several countries, with higher rates for nations like China due to their own trade barriers against the U.S. When asked Tuesday about the tariffs against the foreign country, Trump said that the 145% hit would not last forever.
“It’ll come down substantially, but it won’t be zero. It used to be zero,” Trump said. “We were just destroyed. China was taking us for a ride and just not going to — it’s not going to happen. We’re going to be very good to China. I have a great relationship with President Xi, but they would make billions and billions and billions of dollars a year, and they were building a military out of the United States on what they made.”
By April 10, the White House said that Trump’s announced 125% tariff would actually total 145% on all Chinese imports, according to The New York Times. The administration said the 125% would be added on top of a previously announced 20% tariff already in place on goods from China, the outlet reported.
“So that won’t happen. But they’re going to do very well, and I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together. So I think it’s going to work out very well, but, no, it’s at 145%. It will not be anywhere near that number,” Trump said. (Read more from “Trump Signals Step Back On China Tariffs, Says They’ll ‘Come Down Substantially’” HERE)
Photo credit: Gage Skidmore via Flickr
