Mr. Trump stated conditions for reducing taxes on Chinese goods
President Donald Trump said the US could ease tariffs on Chinese goods if the TikTok deal goes through.
According to RIA Novosti on March 27, US President Donald Trump said that the US could ease tariffs on Chinese goods if the TikTok deal is successful.
“I’ll probably lower the tariffs a little bit to make that happen,” he told reporters in the Oval Office on March 26 (Washington time) when asked if China could be involved in finalizing the terms of the deal.
“Every percent of the tax gives us more than TikTok,” the White House chief added. “If it helps us get a good deal, why not?”
Mr Trump also stressed that the TikTok deal "will be in the interest of the United States" and added that he had the ability to extend the deadline for completing the deal: "If we want to, we will extend it. We have the authority to do so."
The US President signed this decree on March 3, imposing an additional 10% tax on all Chinese goods, raising the total additional tax rate to 20%.
Also at an Oval Office press conference, President Donald Trump announced a 25% tariff effective April 2 on all cars shipped to the United States, a significant escalation in the global trade war.
“We started with a 2.5% base, which is where we got it, and we're going to go up to 25%,” Trump said.
The tariffs will apply not only to foreign-made cars but also to auto parts, including engines and transmissions. Parts coming from Canada and Mexico under the United States-Mexico-Canada Agreement (USMCA) will be exempt from the tariffs until U.S. Customs and Border Protection has a system in place to apply the tariffs to non-U.S. goods.
