Washington10 minutes ago
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US President Donald Trump has indicated that he can reduce the tariffs imposed on China. He admitted that the current tariff rates are so high that the two largest economies in the world have stopped trade with each other.
Trump said in a NBC show that at any time I will reduce the tax on China, because if it is not done it would not be possible to do business with them, and they want to do business.
Trump indicated that China’s economy is in trouble at this time. The work there in factories has been in the worst condition since 2023. Export orders have also fallen significantly.
As part of his US First policy, Trump imposed 10% tariff on all countries selling goods in the US. However, the tariff on China was increased to 145%. In return, China also imposed a tariff of up to 125% on American goods.
Trump said- I will not start the conversation
In the interview on Sunday, Trump admitted that China had had an impact of tariffs, factories are closing and unemployment has increased significantly. But he clearly said that he will not take initiative to start a conversation.
Anchor Christon Velkar asked, are you going to remove tariffs to start a conversation with China? To this, Trump replied, why should I do this?
Trump also said that there have been some good signs from Beijing recently, but he reiterated that there will be any deal between the US and China only when it is equal.
China also indicated to be ready for talks
Meanwhile, China on Friday indicated for the first time that it was ready to interact with the US. He is exploring the possibility of a trade deal with America.
A spokesman for the Chinese Commerce Ministry said that China is considering the US’s trade conversation offering, but the conversation will begin only when Trump ends the tariffs unilaterally.
Tariff War damage both US-China
The growing trade war between the US and China has shook the financial markets and this is the risk of increasing prices of manufacturing equipment as well as cheap things such as clothes and toys, on which many Americans depend on.
At the same time, according to a report by Bloomberg, the functioning of Chinese factories has been in the worst condition since 2023. Export orders have also fallen significantly. This decline is the highest since December 2022. Earlier this happened in April 2022 when Shanghai went completely into the lockdown.