Trump’s Tariff U-Turn? After 145% China Duties, He Promises a Cut — But Keeps the Pressure On

4/23/2025

In a dramatic twist during a public appearance at the swearing-in of the new SEC Chair, President Donald Trump acknowledged the controversial 145% tariffs recently imposed on a wide range of Chinese imports. Originally introduced in response to China’s alleged involvement in the fentanyl supply chain and other "unfair trade practices," the tariffs marked one of the most aggressive moves yet in U.S.-China economic tensions.

#TrumpNews #ChinaTariffs #TradeWar #USChina #FentanylCrisis #EconomicPolicy #BreakingNews #DonaldTrump #TariffUpdate #SECChair #WhiteHouse #USPolitics #145PercentTariff

Also Read

US President Donald Trump, Russia's Vladimir Putin Condemned Pahalgam Terrorist Attack, Call It A Brutal Crime :: https://www.oneindia.com/international/us-president-donald-trump-russias-vladimir-putin-condemned-pahalgam-terrorist-attack-call-it-a-br-4131695.html?ref=DMDesc

Harvard Sues Donald Trump Administration Over Cut In US Federal Funding :: https://www.oneindia.com/international/harvard-sues-donald-trump-administration-over-cut-in-us-federal-funding-4130575.html?ref=DMDesc

US Will Drop Ukraine-Russia Peace Efforts If No Progress Within Days: Marco Rubio :: https://www.oneindia.com/international/us-will-drop-ukraine-russia-peace-efforts-if-no-progress-within-days-marco-rubio-4127371.html?ref=DMDesc

~HT.318~PR.274~GR.122~ED.103~

Transcript

00:00This is a transition period, and it's going to be a little while.

00:04We're taking in a lot of money from tariffs.

00:07They have to, and other countries have to make a deal.

00:10And if they don't make a deal, we'll set the deal.

00:12Mr. President, on China, your press secretary has suggested that some progress is being made.

00:18Are negotiations actively underway?

00:20And do you agree with Secretary Besant,

00:22who has suggested that the current standoff with China is not sustainable?

00:26We're doing fine with China.

00:30We're doing fine with every, I think, almost every country.

00:33Everybody wants to have involvement with the United States.

00:36As you know, we were losing $5 billion a day when, during the Biden administration,

00:43during that last year, it was a horror show, what they were doing on trade.

00:46$5 billion a day.

00:49And now we have it down to a very low number because we're getting 25% from the automobile industry, from autos.

00:55We're getting 25% for steel, 25% for aluminum, and we're getting the baseline of 10%.

01:03And think of it.

01:05We're losing almost $2 trillion on trade.

01:08And those days are gone.

01:09We're not going to do that again.

01:10We're not going to let that happen.

01:12We're being ripped off by almost, I don't say every, but very close to every country,

01:17everywhere in the world, just being ripped off left and right.

01:21You had no leadership.

01:22You had people that didn't know what they were doing, and we're going to turn the country around.

01:27You know, we have a very nice phrase, make America great again.

01:30That's what we're going to do, and it's going to start with trade.

01:33We're doing really well.

01:34I see the stock market was up nicely, but this is a transition period, and it's going to be a little while.

01:43But we are doing well with every country.

01:45Ultimately, we have something they want, and you have to view it that way.

01:49We have something they want, and they want very badly.

01:53And, you know, it's going to be, they're coming in, they're taking treasure, they're taking jobs when they do that, and they have to pay.

02:00And they don't have to pay if they come in and create their own jobs.

02:04You know, if they do their product here, if they build their product or make their product in the United States, we have absolutely no tariffs, and we welcome people.

02:13But we're taking in a lot of money from tariffs, and our country is getting stronger all the time because the other was not sustainable.

02:21We'll see what happens, but ultimately they have to make a deal because otherwise they're not going to be able to deal in the United States.

02:29So we want them involved, but they have to, and other countries have to make a deal.

02:34And if they don't make a deal, we'll set the deal because we're the ones that set the deal, Scott and Howard and myself and others.

02:44We're going to be setting the deal, and it'll be a fair deal for everybody, and it'll be, I think it's a process that's going to go pretty quickly.