President Donald Trump said he at some point agrees to humiliate the tariffs in China, as the fees are currently so high that the two largest economy in the world have essentially finished business.
Trump has even put tariffs on Chinese imports by as much as 145%. China has taken back American import tariffs. The moves rattled the markets and threaten to increase the prices of production equipment as well as affordable goods, which many Americans rely on, including clothing and toys.
“At some point I intend to humiliate them, otherwise you could never do business with them and they want to do business,” Trump said in an interview that aired on Sunday in NBC Check out the press Kristen Welker.
He noted the recent economic pain in China, where the factory's activity has been shrunken from 2023, the official production managers' index said. The new export arrangements fell to the lowest from December 2022 and registered for the biggest decline in April of this year, when Shanghai stepped into a pandemic lock across the city.
Trump also praised some of the statements that China recently made it positive, while repeating that any transaction between the two countries must be “fair”.
China announced on Friday that it has evaluated the possibility of trade with the US after the announcement of Trump's tariffs last month, the first sign that negotiations could start between two sides.
“China is now appreciating it,” the ministry said in a statement. US equities rose on Friday after Beijing signals.
This story was originally reflected on Fortune.com
