Trump: Won’t Play Hardball With China, Tariffs Will Be Nowhere Near 145%

In yet another rollback in his grand tariffs plan, US President Donald Trump has said his China tariffs will be nowhere as high as the 145% threated by him earlier this month. At the swearing-in of the new SEC Chairman, Trump made it clear that “the U.S. sets the deal” when it comes to trade with China. Brushing off mentions of COVID and mocking hardline posturing, Trump emphasized that while relations with President Xi are “very good,” China must come to the table or face the consequences. He referenced sky-high tariff rates, once touching 145%, largely tied to the fentanyl crisis and previous trade imbalances, making it clear that such figures would drop—but not to zero. “We were just destroyed when it was zero,” Trump remarked, accusing China of leveraging American dollars to build its military might. Trump also responded to questions on where the U.S.-China trade relationship stands now, reiterating his personal rapport with President Xi, while maintaining that the U.S. is in a “golden age” and that China wants to be a part of it.