Trump is Open to Resolving Trade War with China, Tariff Cuts on the Horizon, Unsure Details

Washington:  
The Washington administration appears poised to make the first move in the trade war with Beijing, as US President Donald Trump acknowledged that the current 145 percent tariffs imposed on most imported goods from China will "come down substantially, but it won't be zero." The American leader asserted that he would adopt a "very nice" approach with Beijing during the upcoming negotiations but elaborated that China would ultimately need to agree to some form of an accord to reduce the significant taxes that disrupted decades of US trade policy & triggered global economic instability.

He included that trade discussions with China were "doing fine" because "everybody wants to have involvement" in American markets, but stressed that if China fails to agree on a trade deal, the US will dictate the terms. "Ultimately, they have to make a deal, because otherwise they're not going to be able to deal in the United States, and we want them involved, but they have to, and other countries have to make a deal, and if they don't make a deal, we'll set the deal," Trump said during his remarks in the Oval Office on Tuesday.

He said, "We're going to be setting the deal, and it'll be a fair deal for everybody, and it'll be," adding that it's a "process that's going to go pretty quickly."

When queried about whether tariffs on Chinese imports would be reduced, Trump replied, "It'll come down substantially. But it won't be zero."

"145 percent is very high, and it won't be that high...It got up to there [because] we were talking about fentanyl...It will come down substantially, but it won't be zero," the American commander-in-chief stated, referencing an emergency he declared in relation to the smuggling of the drug into the US.

He also said that future tariffs "will not be anywhere near that number."

READ MORE - 

Enthusiasm Builds as Wankhede Stadium Welcomes T20 Mumbai League Season 3