Trump’s comments earlier warned that the U.S. will set the terms of trade if China refuses to reach a deal, but also expressed openness to negotiation and hinted at a partial reduction in tariffs once an agreement is struck.
The comments reflect an approach balanced by the possibility of easing some tariffs, though not eliminating them entirely, as trade negotiations with Beijing have not yet begun.
Trump said the U.S. would dictate trade terms if China doesn’t agree to a deal.
He described his intended approach to talks with Beijing as “very nice.”
Tariffs on Chinese goods would be substantially reduced after a deal, but not fully removed.
Current U.S. tariffs on Chinese imports reach as high as 145% under Trump’s policy.
Despite mutual economic pressure, formal trade negotiations between the U.S. and China have yet to restart.
***
The news of major impact was his reversal on firing Powell. Its sent equity index futures and the US dollar higher.
- Trump backing away from tariffs, backing away from firing Powell – will it last?
- Trump says he has no plans to Fire Federal Reserve Chair Powell
- Trump says he is going to be very nice to China, they have to make a deal
This article was written by Eamonn Sheridan at www.forexlive.com.
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