Donald Trump said during a press conference in the White House that the high duties on goods from China “would fall significantly, but will not take zero”, quotes “The Guardian”.
Trump's statement was a response to earlier comments of the secretary of the treasury Scott Bessent from Tuesday, who stated that the high duties were impossible to maintain and that he expected “de -escalation” of the trade war between the two largest economies of the world.
Details of Bessent's statements were confirmed by two people who asked to maintain anonymity.
“I say that China will be a heavy jam in negotiations,” said Bessent, according to the transcript obtained by the Associated Press agency. “None of the parties think that the status quo is lasting.”
The S&P 500 stock index increased by 2.5 percent After Bloomberg News first informed about Bessent's statements.
However, Trump avoided confirming whether he also considered the situation with China to be “insurmountable”, as Bessent said behind closed doors. “We get along well with China,” said the US president.
Despite the high duties, Trump said that he would be “very nice” for China and would not play sharply with the Chinese president XI Jinping. “We will live together very happily and in an ideal case we will work together,” said Trump.
The US President said that the final customs rate with China will fall “significantly” from the current 145 percent. “It won't be that high,” he said.
The China government has not yet responded to these reports, but consistently criticizes Trump's customs. On the Chinese social platform of Weibo, Trump's statements appeared under various hashtags, including “Trump confessed to defeat.”
Tuesday's article in “China Daily” described them as “symbolic for the populist protectionism of the Maga program” and destabilizing global trade.
Trade war
In subsequent editions of the trade war, Donald Trump increased duties on goods imported from China to 145 percent. In turn, Beijing answered 125 % customs duties on American products.
Global market turbulence prompted Trump to temporarily reduce customs rates for importing from most countries – except China – up to 10 percent. for 90 days. Whether negotiations conducted at this time can lead to compromise is highly uncertain.
The Trump administration met in talks with counterparts from Japan, India, South Korea, the European Union, Canada and Mexico, among others.
Trump did not show any public signals that he plans to withdraw his base 10 percent. The duty, despite the fact that he insisted that he expected other countries to lower their own import duties and remove all non -disarf barriers, which according to administration hinder exports from the US – writes “The Guardian”.
China warned other countries on Monday Before concluding trade agreements with the United States, which could negatively affect China.
The Press Secretary of the White House Karoline Leavitt said that the Trump administration received 18 proposals of commercial contracts from the USA from other countries, adding: “All committed want a trade agreement.”
Source: The Guardian
