Trump optimistic about China deal, urges end to tariffs
Trump remains optimistic about a China trade deal, but Xi pushes back, urging EU unity—global markets brace for the impact of rising tensions.
President Donald Trump expressed optimism about reaching a trade agreement with China, despite escalating tensions and reciprocal tariff increases. White House Press Secretary Karoline Leavitt emphasized that further retaliatory actions by China would be detrimental to its own interests, highlighting the strength of the U.S. economy.
ALSO SEE: Derek Carr's shoulder injury raises concerns for the Saints' 2025 season and draft strategy
China strikes back with tariff hike as Trump defends U.S. trade policy amid global tensions
In response to U.S. tariffs reaching up to 145% on Chinese goods, China announced it would raise tariffs on American products from 84% to 125%, effective April 12. The Chinese government condemned the U.S. measures as violations of international trade norms and labeled them as unilateral coercion.
President Trump defended his tariff strategy on his social media platform, Truth Social, stating that the policy is yielding positive results for the U.S. economy. The White House reported that, besides China, 15 other countries have submitted trade proposals during a 90-day tariff truce, which does not include Beijing.
Trump expects China deal as Xi urges EU to resist U.S. pressure amid market jitters
While the White House did not confirm any formal communications with the Chinese government, Leavitt reiterated Trump's belief that an agreement would be reached. She also mentioned that international partners are eager to engage with the U.S., underscoring America's pivotal role in global markets.
Chinese President Xi Jinping, in a meeting with Spanish Prime Minister Pedro Sánchez, stated that China is unafraid of the escalating trade conflict. He called for the European Union and China to jointly resist unilateral coercive practices. The ongoing trade tensions have caused significant volatility in global financial markets, with investors concerned about the potential for a recession.