U.S. President Donald Trump has hinted at easing the high tariffs imposed on China. Speaking to reporters at the White House on Thursday (April 17), Trump said, “I don’t want to increase tariffs on China any further, otherwise people will stop buying things.”
On April 2, the U.S. imposed heavy tariffs on China and several other countries. In response, China imposed retaliatory tariffs, which angered Trump. If the escalation had continued, tariffs could have reached as high as 245%.
The ongoing tariff exchange has created instability in the markets, causing significant drops in stock prices. Considering the overall situation, Trump’s remarks suggest that the U.S. administration may be losing interest in further tariff actions.
Trump added, “I may not increase tariffs anymore; instead, I might consider reducing them. We want people to keep shopping. But there might come a point where people won’t want to buy anything.”
On April 9, Trump announced a 90-day suspension of tariffs on most countries, excluding China. A general 10% tariff still applies to all imports to the U.S. During these three months, the U.S. aims to discuss new trade policies with various countries.
Following the exchange of tariffs, China announced last week that it is no longer interested in a numbers-based competition with the U.S. However, Beijing warned that it would not hesitate to retaliate if harmed by any U.S. actions.
In yesterday’s press conference, Trump claimed that China has recently reached out to the U.S. to reform bilateral trade policies. He expressed hope that discussions could lead to a new agreement.
However, according to Reuters, there is still no sign of any high-level meeting between the two countries. When asked whether President Xi Jinping would participate in possible talks, Trump did not provide a clear answer.