President Trump stated that tariffs on Chinese imports will eventually be lowered, citing the need to maintain business relations despite the current economic strain on China. He acknowledges the negative impact of the tariffs on the Chinese economy, including factory closures and rising unemployment, but insists that he will not be the first to make concessions.
Weeks of escalating trade disputes have led to high tariffs on both sides. Recent statements from both the US and China indicate a potential softening of positions, with China expressing willingness to consider trade talks but demanding the cancellation of US tariff hikes. While Trump says he is open to a "fair" trade deal, he maintains that China has exploited the US for years.
The impact of US tariffs on China's economy is evident, with April's factory activity showing its steepest contraction in 16 months and new export orders hitting their lowest since 2022. This situation reflects the ongoing struggle between the two major global economies.
Despite these developments, President Trump stated that he has no current plans to speak with Chinese leader Xi Jinping, yet affirms that discussions continue between the US and China.