Trump seeks ‘fair deal’, again throws ball in China’s court amid tariff stalemate
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US President Donald Trump looks on, on the day he signs an executive order in the Oval Office at the White House in Washington, US, January 31, 2025. — Reuters
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WASHINGTON: US President Trump says he still wants a ‘fair deal’ with China, but there is an indication that Beijing has to take the next step, emphasizing what China does to reducing revenue.
Regarding the ‘Fair Deal’, his top officials have provided some details on how Washington can extend its harmful tariff war with Beijing.
Trump told reporters that his country would “have a fair deal with China”, adding that when it was asked that Washington was talking to Beijing, everything was “dynamic”.
However, Trump, citing Beijing, said, “They depend on” they depend on them, even maintaining that they are “very good” with Chinese President Xi Jinping and hopefully they can reach an agreement.
Trade tensions between the world’s two largest economies have increased when Trump has raised tariffs on imports from China this year, and Washington has imposed 145 % additional taxes on many products on unfair methods, and other issues.
Beijing, as a result, has retaliated with 125 % of US goods.
Despite the indications that Washington is looking to a fair deal, the state of the state debate is ridiculous.
When asked if China has a direct contact with China, Trump said: “Every day.”
Nevertheless, on Wednesday, US Treasury Secretary Scott Basant told reporters that the two countries are not talking “yet” when it comes to lowering prices.
“I think the two sides are looking forward to talking to others,” he said in a program at the International Monetary Fund and World Bank spring meetings in Washington.
He added that there is no unilateral offer by Trump on Chinese goods.
‘A restriction’
Basant said that before the talks took place, the two countries should reduce the amazing more taxes on each other’s goods.
“I don’t think both parties think the current tariff level is sustainable, so I won’t be surprised if they have gone down,” he added on the occasion of the Institute of International Finance Forum.
Basant emphasized, “This is equal to a restriction, and the interval between the two countries in the trade is not in line with anyone,” Basant stressed, saying that “de -schection is possible through both sides.”
But he did not give any time frame as to how quickly the bilateral conversation could be.
“This is both a blessing and a curse that the strongest relationship is far above,” Basant said, citing Trump’s relationship with Chinese counterpart XI. However, “With any renovation, the conversation will not start from the top.”
Although Trump has rapidly accelerated rapid prices in various countries and sectors, he has been in a hurry to introduce some exemptions – temporarily retrieved temporarily for tech products like smartphones and chipped tools.
The Financial Times said on Wednesday that they could expand the carveout, adding that Trump Steel and Aluminum, as well as Chinese imports, could be exempt from car parts at some rates.
On Wednesday afternoon, Trump said he was not considering changes in US auto prices, but said revenue on Canada could increase in the case of cars.
Separately, Basant said Wednesday that he had no position whether the president had the authority to fire the Federal Reserve Chair Jerome Powell if he wanted.
He advised Trump’s previous comments that Paul’s “elimination” could not come fast, so the Fed Chief’s term could also be referred to the end of the job.
Initially, on Wednesday, Basant said in a speech that Beijing’s export dependence is “unstable” and “not only China but the whole world has been harmed.”
He called for US concerns about trade imbalance that the Trump administration says it hopes to be resolved through clean rates.
But Basant maintained that “America does not just mean the United States.”
He insisted that the administration’s actions call for deep cooperation and mutual respect among the widespread trade partners, while other countries take the goal of the policy choice, which they say have hollowed out and threatened the protection of the US manufacturing.
