US President Donald Trump said in an interview with ABC television that China deserves Washington to impose a 145% tariff on it.
“That's good. They deserve it“, Trump said in response to the host's comment that the size of the Trump administration's tariffs on Chinese goods amounted to a trade embargo. Trump pointed out that before the tariffs were imposed, China was “earning $1 trillion a year from the United States“.
“At 145%, they basically can't do business with us“, the president noted.
Meanwhile, U.S. Commerce Secretary Howard Lutnick announced that U.S. Treasury Secretary Scott Besant is negotiating a trade deal with China.
“The president will be the biggest driver of the economy if Scott Besant, hopefully, can make a deal with China“, Lutnick said in an interview with CNBC. “We count on Besant, and he counts on us to negotiate with the rest of the world.“
Trump, Latnik added, is focused in his second term not on markets, but on “recalibrating global trade“. “It's hard to do, it takes strength, but he will protect the American economy“, the Commerce Secretary said.
On April 2, Trump announced the introduction of tariffs on goods from 185 countries and territories. The universal tariffs of 10% came into effect on April 5, individual tariffs on April 9. At that time, the American leader announced that he was postponing additional import duties imposed on a reciprocal basis on a number of countries and territories for 90 days. The White House explained that the pause is related to trade negotiations, during which a "universal tariff of 10%" will be in effect.
At the same time, Washington increased tariffs on Chinese products to 125%. A 20% tariff was also previously imposed over alleged insufficient efforts by Canada, China and Mexico to combat the smuggling of fentanyl into the United States. Total US tariffs on goods from China currently reach 145%. In response to the actions of the Trump administration, China raised tariffs on US goods to 125% on April 12.