US President Donald Trump has said he is willing to ease recent tariffs if other countries (and penguins) can offer something «phenomenal». China could get such relief if it approves a deal to sell a stake in TikTok to the US.
US President Donald Trump has said he is willing to ease recent tariffs if other countries (and penguins) can offer something «phenomenal». China could get such relief if it approves a deal to sell a stake in TikTok to the US.
Speaking aboard Air Force One, Trump vigorously defended his tariff program despite the stock market crash. He said he was happy with the fall in interest rates and believed that economic turbulence would subside, Bloomberg reported.
«Tariffs give us a lot of negotiating power», — Trump said, claiming that «every country has been calling» the US administration since the tariffs were imposed.
Donald Trump also hinted at the possibility of easing tariffs. «If someone says we’re going to give you something phenomenal…», — the US president noted.
His speech came after one of the worst days for stocks since the height of the coronavirus pandemic. The S&P 500 lost $2.5 trillion the day before, and the index itself fell nearly 5%. The Russell 2000 index of smaller companies extended its decline from a 2021 all-time high to 20% on speculation that the US president’s tariff war will bring the US economy to a standstill.
Trump reiterated that he is willing to offer tariff relief to China if Beijing approves the sale of the U.S. business to ByteDance Ltd., which owns the TikTok app. The deadline for the sale of the platform expires on Saturday, April 5, unless the president offers a delay as part of his efforts to broker a deal.
«I think maybe China will call and say, ‘Well, we’re upset about the tariffs,’ and maybe they’ll want to get a little bit more to get TikTok approved,» Trump said, adding that he had «no information» that Beijing would seek that approach.
Recall that the tariff war unleashed by Donald Trump affects about 60 countries around the world, including Ukraine, and even a deserted island with penguins. It has also reached countries where Apple manufactures and supplies components for its iPhone, iPad and Mac, which has caused the company’s shares to fall by 7%.
Trump also signed an executive order closing a loophole for cheap goods from China, which takes effect on May 2. Previously, packages worth up to $800 enjoyed a «minimal» exemption from additional duties, allowing foreign online retailers like Temu and Shein to sell super-cheap goods to American consumers.
