President Donald Trump told journalists on the oval office on Tuesday that the overall price level imposed on China, currently 145%, would drop considerably but “will not be zero”.
President Donald Trump said on Tuesday that the high tax rate of 145% of Americans are currently due to pay for Chinese imports will probably be considerably reduced.
While Trump said that the rate “will not be zero”, he expressed his optimism in the face of a potential trade agreement with Chinese President Xi Jinping.
“One hundred and forty-five percent is very high, and it will not be so high,” Trump told journalists from the oval office. “It will drop considerably, but it will not be zero.”
White House The spokesman Kush Desai told Fox Business in a statement that the United States does not seek to unilaterally reduce prices and that China must always negotiate.
What the financial markets cry about Trump’s prices
President Donald Trump expressed his optimism in the face of a commercial agreement with Xi Jinping in China. (Anna Moneymaker / Mauro Pimentel / AFP via / Getty Images)
“President Trump has been clear: China must conclude an agreement with the United States of America,” said Desai. “When decisions on the prices are made, they will come directly from the president. Everything that is only a pure speculation.”
Although Trump has not detailed how lower the rate rates, he said that a trade agreement with China could potentially “work very well”.
“They will do very well, and I think they will be happy, and I think we are going to live together very happily and ideally work together,” said Trump.
China asks South Korea not to export rare land products to American defense, warns that companies could be sanctioned
The shipping containers are seen stacked at the port of Yangshan outside Shanghai, China, April 15, 2025. (Go Nakamura / Reuters)
The president made these remarks after the Treasury Secretary, Scott Bessent, told a summit of investors on Tuesday that the dead end between Washington and Beijing was not durable, a source attended at Fox Business told the summit.
In recent weeks, the financial markets have plunged on the fears of a world trade war after Trump revealed aggressive tariff plans on some of the world’s largest economic powers.
While the rate of tariff on China started at 34%, the rate increased considerably to 145% in reaction to Beijing which made it possible to make reprisal measures. However, Trump said the prices will probably not remain “anywhere near this number.”
Trump said on Tuesday that the current price rate on China is “very high” and “would drop considerably by 145%. (Fox News)
The White House press secretary Karoline Leavitt said on Tuesday that Washington “was doing very well for a potential trade agreement with China” and that many countries have made proposals to the Trump administration.
Click here to get FOX business on the go
“There is a lot of progress made,” Leavitt told journalists. “We now have 18 paper proposals that have been brought to the sales team. Again, these are proposals on paper that the countries have proposed to the Trump administration and our government. “”
