Tariffs: Trump seeks ‘fair trade deal’ with China

US President, Donald Trump said Sunday that the US is in talks with several countries, including China, to negotiate trade agreements.

His main goal with China, he said, is to secure a “fair trade deal.”

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Speaking aboard Air Force One, Trump told reporters he had no plans to speak with Chinese President Xi Jinping this week.

However, US officials are in communication with their Chinese counterparts “about a variety of different things.”

Asked whether any trade deals would be announced soon, Trump said that could “very well be,” but gave no specific details.

Since April 2, Trump’s top officials have been holding meetings with trade partners after the president imposed a 10% tariff on most countries.

He also set higher tariffs for several others, which were suspended for 90 days.

The administration imposed 25% tariffs on autos, steel, and aluminum—along with 25% tariffs on Canada and Mexico, and 145% on China.

Trump suggested some countries might not reach agreements and could instead face new tariffs within the next two to three weeks. It was unclear if he was referring to reciprocal tariffs set to take effect July 8 after the current pause.

He repeated his claim that China has been “ripping us for many years” on trade. He also called former President Richard Nixon’s decision to open relations with China “the worst thing” Nixon ever did.

Still, Trump struck a more positive tone in a taped interview with NBC News, aired Sunday. He said he had been “very tough with China,” essentially cutting off trade between the two economies.

“We’ve gone cold turkey. That means we’re not losing a trillion dollars … because we’re not doing business with them right now.

“They want to make a deal. They want to make a deal very badly. We’ll see how that all turns out, but it’s got to be a fair deal,” he said.

(Reuters)

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