United States President Donald Trump said Wednesday he is open to reducing the 145% tariffs currently imposed on Chinese goods—but stressed that the timeline depends entirely on Beijing.
Speaking at the White House, Trump reiterated his “America First” trade doctrine while teasing potential new tariff announcements.
“TRUMP: IF WE DON’T REACH A DEAL WITH COUNTRIES, THEN IN THE NEXT 2 TO 3 WEEKS, WE WILL SET TARIFFS FOR THEM, INCLUDING CHINA.”
When asked about lowering tariffs, Trump said bluntly:
“That depends on them. We have a situation where we have a very, very great place. It’s called the United States of America, and it’s been ripped off for years and years.”
He added:
“In the end, what I think is going to happen is we’re going to have great deals, and by the way, if we don’t have a deal with a company or a country, we’re going to set the tariff.”
Despite the tough rhetoric, Trump said he gets along “very well” with Chinese President Xi Jinping, and hopes a deal can still be reached.
“Otherwise, we will set a price.”
“Everything’s active”
Pressed on whether the U.S. is still in talks with China, Trump confirmed:
“Actively. Everything is active. Everybody wants to be a part of what we’re doing.”
His comments come amid growing optimism on Wall Street that the U.S. and China could de-escalate their rapidly intensifying trade war, which has ballooned into a near embargo between the world’s two largest economies.
The S&P 500 jumped 1.67% on Wednesday, while the Nasdaq surged 2.5%, building on the previous day’s rally following Treasury Secretary Scott Bessent’s admission that the U.S.-China trade conflict is “unsustainable.”
WSJ: White House considers 50–60% tariff rollback
According to the Wall Street Journal, the Trump administration is weighing a 50–60% reduction in tariffs on Chinese imports. The plan, still under consideration, would demand reciprocal cuts from Beijing, which currently has 125% duties on U.S. goods.
On Tuesday, Trump had already hinted at a shift:
“145% is very high and it won’t be that high,” he said. “It’ll come down substantially. But it won’t be zero.”
China: “We will fight if fight we must”
The Chinese government has responded defiantly.
“We have made it very clear that China does not look for a war, but neither are we afraid of it. We will fight, if fight we must,” said Foreign Ministry spokesperson Guo Jiakun.
“Our doors are open if the US wants to talk. If a negotiated solution is truly what the US wants, it should stop threatening and blackmailing China and seek dialogue based on equality, respect and mutual benefit.”
Tariffs face legal backlash
On Wednesday, a coalition of 12 U.S. states, including New York, Arizona, and Illinois, filed a lawsuit challenging Trump’s legal authority to impose such sweeping tariffs without congressional approval.
In the suit filed at the U.S. Court of International Trade in New York, the states accused the president of triggering economic chaos and bypassing constitutional checks.
“President Trump’s insane tariff scheme is not only economically reckless – it is illegal,” said Arizona Attorney General Kris Mayes.
“Arizona cannot afford President Trump’s massive tax increase. No matter what the White House claims, tariffs are a tax that will be passed on to Arizona consumers.”
Market & Economic Pressure Mounts
Trump’s remarks followed a sharp downward revision in global economic expectations. On Tuesday, the International Monetary Fund slashed its 2025 growth forecast from 3.3% to 2.8%, citing Trump’s tariff policy as the primary headwind.
For now, financial markets seem to be banking on a resolution—but the clock is ticking. As Trump warns: “We’re going to set the tariff” if no deal is reached.
The next 2–3 weeks could decide the course of global trade for years to come.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Related:
Donald Trump to exempt carmakers from some US tariffs
EU slaps Apple and Meta with $800 million in antitrust fines. Meta calls its penalty a ‘tariff’
Tesla Earnings: Profit Plunges 71%, Elon Musk will step back from DOGE
Trump Says China Tariffs Will Be Lower, and ‘No Intention’ of Firing Powell
White House is ‘close’ on Japan, India tariff agreements — but expect them to be light on specifics
Bear Market Survival Guide: How to Stay Smart, Calm, and Positioned for the Rebound
OpenAI spends ‘tens of millions of dollars’ on people saying ‘please’ and ‘thank you’
The Role of Fiscal Dominance in Monetary Policy
US Imposes Tariffs Up to 3,521% on Asian Solar Imports
Authorities use high tech, called “Overwatch” to enhance border security
