Hong Kong / Washington
Cnn
–
President Donald Trump reported a potential tour of his trade war with China in the midst of market volatility, saying that high prices on Chinese products “will drop considerably, but it will not be zero.”
Trump’s remarks, made during a news event in the White House on Tuesday, seem to mark a rhetorical rise after weeks of difficult posture and reprisal in tit-for-tat which sent prices to China beyond 145% drugs.
“145% is very high and it will not be so high,” Trump said in a session of questions and answers with journalists at the Oval Office. “It will not be close to this top. It will drop considerably. But it will not be zero.”
Trump made the comments when they were asked for remarks from the Treasury Secretary Scott Besse Besse Bus Early than the high pricing rates between the United States and China have an embargo trade between savings.
Bessent said at a private investment conference organized by JP Morgan Chase that the trade war with China was not sustainable and that it expects the battle to be defused in the very close future, a person familiar with the affirmed case in CNN.
Instead of a hard rupture or a complete decoupling between the United States and China, Bessent told investors that the objective was to have a rebalancing of the trade, the source told CNN.
This evaluation gave a boost to a rally of Wall Street which had taken shape earlier on Tuesday, the three main American stock markets reaching their highest level of the day after the Bessent remarks were made public.
Asian actions also increased on Wednesday, with the Hong Kong Hang Seng index leading the regional gains, ending the negotiation day of more than 2% more. The Nikkei 225 of Japan finished approximately 2% more and the Kospi of South Korea closed up 1.5%.
Asked about Trump’s comments and besides on Wednesday, the Chinese Foreign Ministry said that the United States should “stop its threats and coercion, and engage with China on the basis of equality, mutual respect and reciprocity” if he wants to conclude an agreement.
“To say that he wants to reach an agreement with China while constantly applying maximum pressure is not the right way to get involved with China – and that will simply not work,” Guo Jiakun, ministry spokesperson, journalists, told a regular press conference.
“The position of China on the tariff war initiated by the United States is very clear: we do not want to fight, but we are not afraid to fight. If it is to fight, we will fight until the end. If it is to speak, our door is wide open,” he added.
Trump’s change in tone has also become viral on Chinese Internet. Wednesday, the hashtag “Trump purified” was tendency as a high subject on the Weibo social media platform, accumulating more than 150 million views.
The two largest economies in the world have slapped the records on each other in a rapid fight that has disrupted the world markets, disturbed supply chains and fears of recession.
Until now, China has taken a provocative tone and has refused to retreat. Instead, he retaliated by increasing the prices on American products to 125%, adding more American companies on his export control list and his list of unreliable entities, and by restoring the export of critical minerals used in everything, from iPhones to missile systems.
Beijing has also decided to exercise pain on the main American industries, restricting the number of Hollywood films displayed in the country and returning at least two Boeing Jets intended to be used by Chinese airlines in the United States.
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President Trump said on Tuesday that high prices on China “will drop considerably”, signaling a potential U-turn on his commercial fight with China. Steven Jiang of CNN explains why the changing position of Trump could give China the upper hand in the increasing tariff war.
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Why the return to the potential of Trump could give China the upper hand
Through all this, Trump insisted that he had a “very good relationship” with Xi Jinping while waiting for the Chinese chief to hold out – and told his team that the United States would not take the first step, CNN reported earlier.
Rather than calling Trump to negotiate prices, XI rather launched a diplomatic charming offensive with other business partners to push American efforts to use the pricing war to isolate China economically.
Tuesday, Trump expressed his hope for Xi again to come to the negotiating table – and promised to be “very nice”.
When asked if the United States was going to play Hardball with China or Xi in order to conclude an agreement, or if the officials would mention the coco-9 pandemic, Trump quickly replied: “No.”
“No, no, we are going to be very nice. They will be very nice, and we will see what is going on,” added the president. “But in the end, they must conclude an agreement, because otherwise they will not be able to deal with in the United States, and we want to involve them.”
“I think we will live together very happily and ideally work together, so I think it will work very well,” he said.
A person familiar with the Chinese government’s thought told CNN last week that Trump unveiled his “Liberation Day” prices on April 2, China had appointed a point of talks with the United States, and that Beijing was not clear about the good contact on the American side. Trump may want to be his own negotiator, but it is not compatible with the operation of China, added the source.
By referring to beautiful or even hostile opinions on China expressed by Trump’s cabinet, the person said that they did not reject such points of view suggested that he tolerated them despite his public affirmations concerning respect and the fact of loving XI.
Earlier this month, Beijing criticized the American vice-president JD Vance for his comments on “Chinese peasants” in an interview that attracted general anger and ridicule on Chinese Internet.
