Trump optimistic about massive tariff cut for Beijing

President Donald Trump said on Tuesday that the huge tax rate of 145 % must pay the price of Chinese imports to be dramatically reduced.

While Trump said the rate “will not be zero”, he expressed optimism about a possible business deal with Chinese President Xi Jinping.

“One hundred and forty percent is very high, and that will not be high,” Trump told reporters at the Oval Office. “It will drop significantly, but it will not be zero.”

White House spokesman Kush Desi told Fox’s business in a statement that the United States is not looking to the definitions unilaterally and that China is still negotiating.

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“President Trump was clear: China needed an agreement with the United States of America,” said Desai. “When decisions related to definitions are made, they will come directly from the president. Anything else is just pure speculation.”

While Trump did not explain in detail the low definition rates, a commercial agreement with China may “work very well.”

“They will do a very good job, and I think they will be happy, and I think we will live together with great happiness and ideal work together,” Trump said.

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Shipping containers are seen stacked in Yangshan Port outside Shanghai, China, on April 15, 2025. (Go Nakamura / Reuters)

The President made statements after Treasury Secretary Scott Beesen told the investor’s summit on Tuesday that the confrontation between Washington and Beijing was not sustainable, according to the source attended by the summit Fox Business.

In recent weeks, financial markets have fallen from fears of a global trade war after Trump revealed aggressive tariff plans for some of the largest economic forces in the world.

While the rate of tariffs on China started for the first time by 34 %, the rate increased significantly to 145 % as a reaction to the imposition of reprisal measures in Beijing. However, Trump said the definitions will not remain “anywhere near this number.”

Trump said on Tuesday that the current tariff rate in China is “very high” and will “drop significantly” from 145 %. (Fox News)

White House journalist Caroline Levitte said on Tuesday that Washington was “working well in a possible commercial deal with China,” and that many countries have submitted proposals to the Trump administration.

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“There is a lot of progress,” Levitte told reporters. “We now have 18 suggestions on paper that was brought to the commercial team. Once, these are proposals about the paper that the two countries proposed to Trump administration And for governments. “