Trump Hints at Tariff Drop for China, Raises Trade Deal Hopes
Trump suggests significant reduction of China tariffs, possibly down to 145% rate
In the Oval Office on Tuesday, President Donald Trump announced that the sky-high 145% tariff on Chinese imports will decrease drastically, but it won't hit zero.
Trump told reporters that the hefty tax burden Americans must pay for Chinese goods will likely be reduced significantly. He expressed optimism for a potential trade deal with Chinese leader Xi Jinping.
"One hundred forty-five percent is too high, and it won't be that high," Trump stated. "It will come down substantially, but it won't be zero."
White House spokesman Kush Desai informed FOX Business that the U.S. isn't thinking about slashing tariffs alone and that China must still negotiate.
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Trump seems hopeful about a trade deal with China's Xi Jinping. (Anna Moneymaker/Mauro Pimentel/AFP via Getty Images)
According to Desai, "Trump has always made it clear: China needs to reach a deal with the United States of America." He also added that decisions about tariffs will originate from the President, and any other information is just wild speculation.
While Trump didn't specify how low the tariff rates might go, he believes a trade deal with China could work out brilliantly.
"They'll do well, and I think they'll be content, and I believe we'll live peacefully and ideally collaborate," Trump stated.
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Shipping containers line up at the Yangshan Port outside Shanghai, China, on April 15, 2025. (Go Nakamura / Reuters)
Trump made these statements after Treasury Secretary Scott Bessent announced at an investor summit that the Washington-Beijing standoff was untenable, according to a source who attended the summit.
Recent market turbulence has ensued due to fears of a global trade war, following Trump's disclosure of stringent tariff plans towards significant economic powers.
The initial tariff rate on China stood at 34%, but it swelled to 145% in response to Beijing's retaliatory measures. However, Trump suggests that tariffs won't remain "anywhere near" that figure.
Trump stated on Tuesday that the current tariff rate on China is "too high" and will "go down substantially" from 145%. (Fox News)
White House press secretary Karoline Leavitt reported that Washington is "making impressive progress" towards a potential trade deal with China, with over 18 proposals received from various countries. She added that these proposals are still on paper and await vetting by the Trump administration's trade team.
- The 145% tariff on Chinese imports, as announced by President Trump, will decrease substantially but not reach zero.
- Financial markets have expressed concerns about Trump's tariffs, with turbulence arising due to fears of a global trade war.
- White House spokesman Kush Desai stated that Trump has always made it clear that China needs to reach a deal with the United States.
- Trump's optimistic statements about a potential trade deal with China's Xi Jinping come after Treasury Secretary Scott Bessent announced that the Washington-Beijing standoff was untenable.
- The initial tariff rate on China was 34%, but it escalated to 145% in response to Beijing's retaliatory measures.
- According to White House press secretary Karoline Leavitt, Washington is making impressive progress towards a potential trade deal with China, with over 18 proposals received from various countries.
- Politics and policy-and-legislation related to trade, tariffs, and economics have been major points of interest in general news, particularly amid war-and-conflicts and their impact on business and investing markets. The upcoming decisions about tariffs could significantly affect Yangshan Port and other international trade routes.
