China is eager to hash out a trade deal with the U.S., according to President Donald Trump. <\/p>\n
Trump\u2019s remarks come as Treasury Secretary Scott Bessent is poised to launch trade negotiations with China in Switzerland on Saturday amid a steep tariff battle between Washington and Beijing. <\/p>\n
‘Scott’s going to be going to Switzerland, meeting with China,’ Trump told reporters Thursday at the White House. ‘And you know, they very much want to make a deal. We can all play games. Who made the first call, who didn’t make them? It doesn’t matter. Only matters what happens in that room. But I will tell you that China very much wants to make a deal. We’ll see how that works out.’<\/p>\n<\/p>\n
The Trump administration announced widespread tariffs for multiple countries on April 2, following criticism that other countries’ trade practices are unfair toward the U.S.<\/p>\n
The administration later adjusted its initial proposal and announced on April 9 it would immediately impose a 145% tariff on Chinese goods,<\/u> while reducing reciprocal tariffs on other countries for 90 days to a baseline of 10%. China responded by raising tariffs on U.S. goods to 125%.<\/p>\n
Bessent said Tuesday that negotiations between the U.S. and China had not started, after China said Friday that Beijing was open to holding talks if the tariffs were rescinded. <\/p>\n
Trump told reporters on Air Force One Sunday he wants a ‘fair’ trade deal with China, claiming discussions with Beijing were in the works on multiple issues. <\/p>\n
Trump has voiced support for tariffs for decades. The White House has called for tariffs to address the nation\u2019s 2024 record $1.2 trillion trade deficit, and said the tariffs will bring back U.S. manufacturing jobs. <\/p>\n<\/p>\n
Bessent cautioned in April that the tariffs could cost China up to 10 million jobs, and said it\u2019s incumbent upon Beijing to remove current tariffs on U.S. imports. <\/p>\n
‘I think that over time we will see that the Chinese tariffs are unsustainable for China. I’ve seen some very large numbers over the past few days that show if these numbers stay on, Chinese could lose 10 million jobs very quickly,’ Bessent told reporters at the White House on April 29. ‘And even if there is a drop in the tariffs that they could lose 5 million jobs.’<\/p>\n
‘So remember that we are the deficit country,’ Bessent said. ‘They sell almost five times more goods to us than we sell to them. So the onus will be on them to take off these tariffs. They’re unsustainable for them.’<\/p>\n
Bessent also told lawmakers Tuesday that the U.S. has launched discussions with various countries, and indicated that major trade deals could be announced ‘as early as this week.’ <\/p>\n<\/p>\n
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