Trump: Tariffs against China will drop significantly, but not 0!
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On April 23, according to the New York Post, US President Donald Trump told reportersHis 145% tariff on Chinese goods will be "significantly" reduced.
This sudden softening attitude immediately ignited Wall Street, and the stock market became jubilant in an instant. The Dow Jones Index, Nasdaq and S&P 500 rose by more than 2.5%, and investors finally breathed a sigh of relief.
Previously, Trump had imposed multiple rounds of tariffs on Chinese imported products, with an additional tax rate of up to 145%, prompting China to impose a total of 125% tariffs on U.S. exports.
Although Trump has exempted 125% tariffs on China's smartphones, computers, semiconductors and other electronic products, he said the move is only temporary.
Trump said the tariff rate on China will not be maintained at the current level.
"145% is high, but not that high," Trump said. "No, it's definitely not that high. It'll drop significantly. But it won't be zero."
Formal trade negotiations between the United States and China have not yet begun.
Trump's easing attitude followed the remarks of Treasury Secretary Scott Bessent. Becent also sent this positive signal ahead of schedule at the closed-door investment summit in Washington on Tuesday. He said the status quo of the U.S.-China trade war is no longer sustainable and expects substantial negotiation progress to come soon. Becente's remarks instantly aroused market optimism, and the stock market immediately performed positively.
White House Press Secretary Caroline Levitt said that since Trump announced the full imposition of tariffs earlier this month, more than 100 countries have contacted the United States and hope to start trade negotiations, with 18 of which have submitted proposals.
However, China is not among them. Levitt said there is currently no report on Trump's communication with China.
However, Levitt also said that the U.S. government "has done a very good job in reaching a potential trade deal with China" and is "laying the foundation" for reaching a potential deal.
