Trump Hints China Tariffs Will Drop ‘substantially’

[craig nigrelli]

AS THE TRADE STANDOFF BETWEEN THE UNITED STATES AND CHINA CONTINUES, PRESIDENT DONALD TRUMP IS NOW SIGNALING HE’S WILLING TO WORK WITH CHINA TO FIND SOME COMMON GROUND ON THE LEVIES.

RIGHT NOW — CHINA IS FACING 145 PERCENT TARIFFS ON GOODS THAT IT SENDS TO THE UNITED STATES, WHILE BEIJING HAS RESPONDED WITH ITS OWN TARIFFS OF 125 PERCENT ON AMERICAN GOODS HEADING THERE.

ON TUESDAY, TREASURY SECRETARY SCOTT BESSENT REPORTEDLY TOLD INVESTORS, IN A CLOSED-DOOR MEETING, THAT THE CURRENT TARIFFS ARE NOT SUSTAINABLE  AND HE EXPECTS “THERE WILL BE A DE-ESCALATION” IN THE “VERY NEAR FUTURE.”

PRESIDENT TRUMP ECHOING THAT WHILE SPEAKING TO REPORTERS AT THE WHITE HOUSE TUESDAY.

Donald trump

“I’m judge 145 percent is very precocious and it won’t beryllium that high, it’s not going to beryllium that high.”

“It’ll travel down substantially, but it won’t beryllium zero. It utilized to beryllium zero. We were conscionable destroyed. China, was taking america for a ride, and… It’s not gonna happen.”

“But they’re gonna do very well, and I deliberation they’re going to beryllium happy, and I we’re gonna unrecorded together very happily and ideally activity together.”

AND WHILE PRESIDENT TRUMP APPEARS TO HAVE NO PLANS TO ROLL BACK HIS BASELINE 10 PERCENT TARIFFS ON  CHINA AND MORE THAN 180 COUNTRIES ACROSS THE WORLD,  THE TRUMP ADMINISTRATION HAS MET FOR TALKS WITH COUNTERPARTS FROM JAPAN, INDIA, SOUTH KOREA, THE EUROPEAN UNION, CANADA AND MEXICO, AMONG OTHER NATIONS.

THE WHITE HOUSE ANNOUNCING THAT IT NOW HAS 18 WRITTEN PROPOSALS, ON PAPER, FOR TRADE DEALS, AND THEY HAVE ANOTHER  34 MEETINGS WITH COUNTRIES, SLATED FOR THIS WEEK.  WALL STREET FINALLY REACTED POSITIVELY WITH THE DOW UP BY MORE THAN 1000 POINTS AND FUTURES ARE UP AGAIN THIS MORNING.