President Donald Trump indicated Tuesday evening that the steep 145% tariffs currently levied on Chinese imports will be significantly reduced, though he ruled out eliminating them entirely. Speaking from the Oval Office, Trump stated the duties would “come down substantially.”
The announcement signals a potential de-escalation in the trade conflict that intensified earlier this month. On April 2nd, the Trump administration announced reciprocal tariffs targeting several nations, imposing particularly high rates on China, citing unfair trade barriers. This move prompted retaliatory tariffs from Beijing, escalating into a tit-for-tat tariff war.
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By April 9th, following China’s refusal to lift its retaliatory measures, President Trump announced an increase in tariffs on Chinese goods from a planned 104% to 125%, while pausing new tariffs on other countries for 90 days.
The White House subsequently clarified on April 10th that this 125% increase would be added to a pre-existing 20% tariff, bringing the total effective rate on all Chinese imports to 145%, according to The New York Times.
Addressing the 145% figure on Tuesday, Trump said, “I’m sure 145% is very high, and it won’t be that high, not going to be that high… No, it won’t be anywhere near that high.” He attributed the escalation partly to specific issues like fentanyl, noting “various elements built it up to 145.”
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While signaling a reduction, the President stressed that tariffs would not return to zero. “It used to be zero,” Trump said. “We were just destroyed. China was taking us for a ride… they would make billions and billions and billions of dollars a year.”
He maintained that the U.S. must ensure fairer trade terms but expressed optimism for future relations: “We’re going to be very good to China… I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together.”
The President’s comments align with remarks made earlier Tuesday by U.S. Treasury Secretary Scott Bessent. According to the Associated Press, Bessent stated he expects a “de-escalation” in the trade dispute, calling the current level of conflict unsustainable in the long run.
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