President Donald Trump acknowledged that tariffs represent a powerful economic tool against China, but he will not use them. In his latest comments, Trump softened his stance on trade restrictions while continuing to threaten China as the world’s second-largest economy.
during interview In an interview with Fox News’ Sean Hannity, President Trump declared that China fears US tariffs the most, that they represent “a tremendous power over China” and “they don’t want them,” yet he “would rather not have to use them.”
Throughout his term, Trump has used tariffs to pressure countries as friends and rivals while trying to boost domestic finances through additional income.
During his second day, Trump threatened to impose a 10% tariff on China starting February 1 because he blamed the country for allowing fentanyl to reach the US border.
China faces milder threats than Trump.
According to A Bloomberg a report, Market watchers took note of Trump’s recent comments. Now, China faces lighter threats from America compared to previous statements despite constant warnings from Trump.
The 60% tariff plans he introduced on Chinese exports during his election campaign were met with opposition from economists who expressed concern about destroying trade between the United States and China.
The Chinese yuan strengthened after Trump spoke during the 2016 presidential debates. Against the dollar, it rose 0.3% abroad and 0.2% at home.
During the positive market response, Chinese stocks improved with a 1% rise in the CSI 300 Index, while Hong Kong-listed stocks received a 2% increase.
Trump made friendly comments about China and its President Xi Jinping, saying Xi was like a “friend” despite his hard-line views on trade issues.
Trump rated their interaction as positive and retained pleasant memories of their interaction before the pandemic. Trump explained that China and its leader Xi are “very ambitious.”
“It is difficult to know exactly what US President Donald Trump meant by his recent comments on Chinese tariffs,” says Zhang Xu, chief economist for Asia. However, it is difficult to see Trump backing down from his tariff threats.
Trump threatens to impose huge tariffs on Russia.
In a wide-ranging conversation, Trump warned that the Russian Federation could face “huge tariffs” and “major sanctions” if it fails to end its ongoing war with Ukraine. “It must end immediately,” he said.
Trump condemned Russian President Vladimir Putin while simultaneously criticizing Ukrainian President Volodymyr Zelensky for his initial responses to the conflict by calling him “no angel.”
Trump referred to Iranian leaders as “religious fanatics” and also expressed his appreciation for North Korean leader Kim Jong Un. He said that the North Korean leader was a “smart man” and that he would like to negotiate with him.
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