Donald Trump draws the line: No tariff cuts for China without 'substantial' agreement | Today news

President Donald Trump said he would not consider lowering rates on China without a great concession. “Well, I’m not going to let it down unless they give something that, you know, substantially. Otherwise, I’m not going to let it down. It will work all. These things always work,” Trump told reporters aboard Air Force One. When he insisted on what he would consider “substantial”, Trump pointed to greater market access for US businesses in China. “Well, free from China, you know, let’s go to work in China, because honestly, that’s what we want – we wanted, and then we almost got it. And then they supported the agreement. We had it to go to China and sell our product, sell our wares. In other words, it is called ‘open China’. It will be great. Trump insists that trade talks are underway: “They had a meeting …” Despite China’s denials, Trump maintained that trade discussions between Washington and Beijing were underway. “They held a meeting this morning,” he said, refusing to name participants. “It doesn’t matter who ‘they are’. We can reveal it later, but they held meetings this morning, and we met with China. ‘ In a separate interview with Time Magazine, Trump also claimed that Chinese officials were directly issuing him. “He is called,” Trump said. “And I don’t think it’s a sign of weakness on his behalf,” he added without specifying more information about the alleged call. “China and the United States did not conduct consultations or negotiations on rates, let alone reach another agreement,” Chinese Foreign Ministry spokesman Guo Jiakun said during a briefing and our reports ‘fake news’. However, a White House official said that lower levels on the person and a phone call between us and the Chinese staff did indeed take place earlier this week. Trade War escalates: Rates are rising on both sides. There is increasing uncertainty and confusion around the US -China trade war, which adds volatility to the global markets and prolonged economic pain for both countries. US businesses are struggling with rising import costs, while Chinese exporters see the US demand. Treasury Secretary Besent: De-escalation has treasury secretary Scott Bestent, reflecting the need for a cooling-off of stress and said this week that excessively high rates should fall before actual negotiations can move forward. “De-escalation is needed for the world’s two largest economies to rebalance their trading relationship,” Bestent said. First Published: April 26, 2025, 23:07 IST