Trump says he will not drop tariffs to get China to negotiating table
President Donald Trump has firmly stated that he will not reduce tariffs on China as a means to bring them to the negotiation table, insisting that the tariffs are impacting the Chinese economy significantly. In an interview, Trump mentioned that China's economy is struggling, with factory closures and rising unemployment, yet he does not wish to further harm their economy. He emphasized the potential benefits for large businesses, particularly in the automotive sector, due to the tariffs, and suggested that the U.S. could see substantial new investments. While he did not rule out making some tariffs permanent, he anticipated a historic economic boom for the U.S. despite short-term recession risks. Trump also acknowledged that while a recession is possible, he remains confident in the future economic prospects of the United States.
President Trump has taken a strong stance against dropping tariffs on China, despite their economic struggles, as he believes it would undermine his negotiation strategy.
During an NBC interview, Trump highlighted the severe impact of tariffs on China's economy, noting factory closures and high unemployment, but expressed reluctance to further exacerbate these issues.
Trump emphasized the advantages for large U.S. businesses, particularly in the automotive industry, which he claims will benefit greatly from the current tariff policy.
He suggested that the U.S. could see up to $9 trillion in new investments, citing commitments from major companies like Apple and various auto manufacturers to establish plants in the United States.
While Trump did not dismiss the possibility of a recession, he remains optimistic, asserting that the U.S. is in a 'transition period' and predicting an unprecedented economic boom.
The Chinese government is reportedly willing to engage in talks with the Trump administration to reduce tariffs, and has already exempted some American products from high tariffs.
Despite acknowledging short-term economic challenges, Trump is confident in the long-term economic success of the U.S., dismissing concerns about a potential recession as part of a broader economic transition.