Trump says he ‘would rather not’ impose tariffs on China

Trump ‘would rather not’ impose tariffs on China. Trump has said he thinks a trade deal between the US and China could be reached, in a change of tone from his comments on the campaign trail.

Since returning to the White House, he has threatened to hit China with 10% tariffs because of the large amounts of the opioid fentanyl that he says is being sent from China to the US through Mexico and Canada.

In an interview with Fox News, Trump said that an agreement was possible and “we have one very big power over China, and that’s tariffs, and they don’t want them, and I’d rather not have to use it, but it’s a tremendous power over China.”

His comments highlight how the US President appears to be using the threat of tariffs as a negotiating tactic.

The world’s two biggest economies have been sparring on a number of geopolitical and economic issues, and the sources of tension between them range from the sovereignty of Taiwan and the ownership of the social media platform TikTok

“We have one very big power over China, and that’s tariffs, and they don’t want them,” Donald Trump told Fox News in an interview that aired Thursday in the US. “And I’d rather not have to use it. But it’s a tremendous power over China.”

President Donald Trump expressed a reluctance to impose tariffs on China during a television interview, suggesting a trade war between the world’s largest economies could be avoided.

“We have one very big power over China, and that’s tariffs, and they don’t want them,” the US leader told Fox News in an interview that aired Thursday in the US. “And I’d rather not have to use it. But it’s a tremendous power over China.”

Trump threatened on his second day in office to put 10% tariffs on China as soon as Feb. 1 for allowing fentanyl to “pour” into America. On the campaign trail, the Republican floated levies on China around the 60% mark, which economists have said could decimate trade with the Chinese economy that’s heavily reliant on exports.

The yuan extended gains in both onshore and offshore markets after Trump’s comments. The offshore yuan rose 0.3% against the greenback, while the onshore yuan gained 0.2%.

Trump reiterated his admiration for China and its leader Xi Jinping during the interview, saying he was “like my friend” and that a recent call with him “went fine.” “It was a good, friendly conversation,” Trump said.

“I had a great relationship with him prior to Covid,” he added. “They are a very ambitious country. He’s a very ambitious man.”

Kim Jong Un ‘happens to be a smart guy’ – Trump

Earlier in his interview with Fox News, Trump also said he plans to reach out to North Korean leader Kim Jong Un.

“I got along with him,” Trump said of Kim.

“He’s not a religious zealot. He happens to be a smart guy.”

The two last met in 2019, at the Demilitarised Zone between North Korea and South Korea.

During Trump’s first term in office, he met Kim three times – he was also the first sitting US president to set foot in North Korea.

With the Thanks and Reference to:https://www.bbc.com/news/live/ce8y3yk00yjt and https://www.cnbctv18.com/world/donald-trump-says-he-would-rather-not-have-to-impose-tariffs-on-china-19545595.htm