04.05.2025 19:20
U.S. President Donald Trump signaled a step back on the tariffs imposed on China. In a program he attended, Trump made notable statements, expressing that he would reduce customs duties at some point, stating, "Because otherwise, you can never do business with them."
While no solution has yet been provided in the escalating tensions of the tax wars between the US and China, the statements made by US President Donald Trump during a program he attended drew attention.
STEP BACK ON CHINA TARIFFS
Speaking on NBC News, Trump expressed that he would reduce the tariffs imposed on China at some point, stating, "Because otherwise, you can never do business with them."
US-CHINA TRADE WAR
The year 2025 witnessed a resurgence of the ongoing trade war between the US and China. The increase of import tariffs on China by US President Donald Trump by up to 145% significantly heightened the economic tension between the two countries.
The Chinese government quickly responded to this move by raising the tariffs on US-made products to 125%. As both countries mutually raised costs on billions of dollars worth of import items, this situation led to pressure on global supply chains.
In a statement made at a press conference held in Washington, President Trump said, "These tariffs will drop at some point. Otherwise, it won't be possible to trade with them." However, no clear timeline has been announced regarding when and to what extent the tariffs will be reduced.
On the other hand, reactions from the American business community to the rising tariffs are growing. Many sector representatives, especially from major retail chains, warn that the rising costs are reflected in consumer prices and are increasing inflationary pressure.
Meanwhile, the Beijing administration has considered imposing restrictions on the export of certain strategic products in retaliation for the US's actions.