WASHINGTON: US President Donald Trump said his country would reduce its customs tariffs on Chinese goods, but they will never be at zero at ...
WASHINGTON: US President Donald Trump said his country would reduce its customs tariffs on Chinese goods, but they will never be at zero at any case.
"145% is very high, and it won't be that high. It won't be anywhere near that high," he told reporters at the White House. "It'll come down substantially, but it won't be zero.".
Last week, Trump told reporters that the current 145% duty may be reduced, and that it was very unlikely that they will be further increased.
The negative economic effects from increased customs tariffs will be felt in the United States for some time, Trump said.
"We're doing really well. I see the stock market was up nicely, but this is a transition period, and it's going to be a little while, but we are doing well with every country," he said.
In his opinion, practically all countries want to cooperate with the United States, and his country has something to offer to its trade partners.
On April 2, US President Donald Trump announced the introduction of tariffs on products from 185 countries and territories. Russia is not on this list. Universal tariffs of 10% came into effect on April 5, individual ones - on April 9.
On April 9, Trump suspended the individual import duties imposed on some countries and territories for 90 days. The White House explained that during the pause, trade negotiations would take place, during which a "universal tariff of 10%" will be in effect.
Meanwhile, the US President raised tariffs on Chinese products to 125%. Taking into account the previously imposed tariff of 20% for the allegedly insufficient efforts of the governments of Canada, China and Mexico to combat fentanyl smuggling to the US, the total duty on goods from China currently reaches 145%.
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