Friday, 18 April 2025

Trump Claims China Wants A Deal On Tariffs; Hours Later They Impose Further 84% On US Goods


Trump Claims China Wants A Deal On Tariffs; Hours Later They Impose Further 84% On US Goods

Treasury Secretary: “I can tell you that this escalation is a LOSER for them”

Just hours after President Trump declared that China wants to make a deal regarding tariffs, the Communist state imposed a further 84 percent on US goods, prompting many to declare a full on trade war has begun.

Trump remarked that the Chinese “badly” want to make a deal, but “they don’t know how to get it started.”

He reiterated the statement in a Truth Social post:

Press Secretary Karoline Leavitt expanded on the President’s comments, saying “The President, when America is punched, he punches back harder. If China reaches out to make a deal, he will be incredibly gracious, but he’s going to do what’s best for the American people.”

Leavitt added that “it would be imprudent” to reveal under what conditions President Trump would consider reducing China’s tariffs.

However, in response to the US upping the tariffs to 104 percent at midnight, China announced further retaliatory action, slapping another 84 percent on US goods as of midnight tonight.

Treasury Secretary Scott Bessent reacted to the news, noting “It’s unfortunate that the Chinese actually don’t want to come and negotiate because they are the worst offenders in the international trading system.”

“I can tell you that this escalation is a LOSER for them,” he continued, adding “They have some very smart economists, the academicians, technocrats within their bureaucracy and they would be telling the leadership that we do not have the edge here.”

“They are the surplus country. Their exports to the US are five times our exports to China, so they can raise their tariffs, but – so what?” Bessent further urged.

Meanwhile, Kevin O’Leary has called for 400 percent tariffs on China, saying that it’s time to “squeeze Chinese heads into the wall.”

O’Leary praised Trump and said of the Chinese. “They cheat, they steal. They steal IP. I can’t litigate in their courts.”

Trump has indicated that scores of countries are coming to the table to cut trade deals since his baseline tariff announcement.

Trump claimed that Japan’s “top team” of negotiators would be meeting with U.S. officials soon to strike a new tariff agreement, and that a team from South Korea was already on the plane to the U.S. to negotiate trade, tariffs, and “other subjects.”

Both Leavitt and Bessent have said that 70 countries are actively communicating to make deals.

The EU, however has voted in favour of retaliatory tariffs between 10% and 25% on U.S. goods.

The move comes after Trump rejected the EU’s offer of zero for zero tariffs for industrial goods.

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