Trump Says New Trade Deal With China Is "Very Possible" Under Us Terms
Donald Trump stated that a new trade agreement with China is "very possible." He added that it would only happen under U.S. terms. Trump made the comments during a phone call to an event hosted by Chris Cuomo of NewsNation.
Trump claimed that Beijing had been "the king of ripping off the U.S." He said China could no longer do business in the U.S. because he wouldn't allow it.
Trump noted the impact of tariffs imposed on China, which he said were at 145%. He also mentioned that the U.S. is working on potential trade agreements with Japan, South Korea, and India. These statements come amid ongoing trade tensions between the U.S. and China.
U.S. Trade Representative Jamieson Greer stated that no formal talks with China had yet occurred. Greer said the U.S. wants to ensure fair trade with China. He added that initial agreements with some trade partners are expected within weeks.
During a Cabinet meeting, Trump blamed former President Joe Biden for recent poor economic data. He claimed he inherited a country in ruins. Trump also criticized the justice system, alleging some judges were obstructing border security measures.
A planned rare earth elements agreement with Ukraine was also discussed. Trump said he didn't want a complicated and expensive deal. He emphasized that the U.S. would have a presence on the ground.
Treasury Secretary Scott Bessent said the agreement was ready for signing. He noted that the Ukrainian side had made last-minute changes. If all went well, the agreement could be signed in the afternoon.
Secretary of State Marco Rubio announced new energy sanctions targeting Iran. Seven companies and two ships involved in oil trade with Iran were added to the sanctions list. Rubio stated these sanctions are part of the U.S.'s "maximum pressure" strategy.