President Donald Trump said he is ready to reduce the customs tariffs in China at some point because the fees are now so high that the two largest economies in the world have mainly stopped doing business with each other.
Trump setting definitions up to 145 % on Chinese imports. China has taken revenge on 125 % definitions on American imports. These movements shook the markets and threaten to raise the prices of manufacturing equipment as well as goods at affordable prices on which many Americans depend, including clothes and games.
“At some point, I will reduce it, because otherwise, you can never deal with them, and they want to do commercial business a lot,” Trump said in an interview broadcast on Sunday on NBC. Meet the press with Christine Wilker.
He referred to the recent economic pains in China, as the factory activity slipped to the worst shrinkage since 2023, according to the official purchasing directors index for manufacturing. The new export orders fell to the lowest level since December 2022 and recorded the largest decline since April of that year, when Shanghai entered a city level.
Trump also praised some of the statements that China recently made as “positive”, while emphasizing that any deal between the two countries will reach “fair”.
China said on Friday that it was holding the possibility of trade talks with the United States since the announcement of the Trump tariff last month, the first sign that negotiations could begin between the two sides.
“China is currently evaluating this,” the ministry statement said. American stocks rose on Friday after these references from Beijing.
This story was originally shown on Fortune.com
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