The post ‘At some point, I’m going to lower tariffs’ on China appeared on BitcoinEthereumNews.com.

Speaking over the weekend on tariffs announced on Chinese imports, US President Donald Trump said that “At some point, I’m going to lower them, because otherwise, you could never do business with them, and they want to do business very much.” When asked if there will be trade deals this week, he said there ‘could be.” Additional comments Has no plans to speak with Xi this week. Talking about other matters with China. Market reaction With the return of uncertainty on Trump’s tariffs, the US Dollar is losing ground again versus its major currency rivals, with the US Dollar Index (DXY) down 0.31% on the day at 99.73 as of writing. US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. The return of Donald Trump to the White House as the 47th US President has…

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Filed under: News - @ May 5, 2025 2:26 am