Trump reveals conditions for lowering tariffs on Chinese products
What's the story
US President Donald Trump has hinted at the possibility of lowering tariffs on Chinese goods. However, he stressed that this would only happen if Beijing agrees to certain concessions. These include increasing purchases of US soybeans and lifting restrictions on rare earth minerals. The statement comes after the US imposed an additional 100% tariff on Chinese imports amid rising trade tensions ahead of new negotiations.
Trade negotiations
China has to give us some things too, says Trump
Speaking to reporters aboard Air Force One, Trump said, "They're paying us a lot of money, tremendous amount of money in tariffs, and they'd probably like to have it be less. We'll work on that, but they have to give us some things too." He stressed that while China is paying an unprecedented amount in tariffs, with some imports facing a total duty of 130%, they need to do something for the US as well.
Tariff terms
US wants China to buy American soybeans
Trump has made it clear that he wants China to buy American soybeans and stop fentanyl trafficking in return for lower tariffs. He said, "I want them to start buying soybeans at least in the amount that they were buying before." The President also clarified that he doesn't want China to play the rare earth game with the US.
Diplomatic talks
US and China prepare for new round of trade negotiations
The comments come as the US and China prepare for a new round of trade negotiations "as soon as possible." The decision was made after a video call between China's chief negotiator Vice Premier He Lifeng and US Treasury Secretary Scott Bessent. State news agency Xinhua reported that the discussions were "candid, in-depth and constructive exchanges."
Trade war
China warns of possible retaliation
In response to Trump's new tariff announcement, China has warned of possible retaliation. A commerce ministry spokesperson said, "Wilful threats of high tariffs are not the right way to get along with China," according to Xinhua. Despite earlier indications that Trump would not meet Xi Jinping at this month's APEC summit, a meeting between the two leaders still seems possible.