Key Takeaways
- US President Donald Trump expects a deal with China on tariffs.
- The current tariffs rates between the US and China are 145% and 125% respectively.
- High tariffs rates may indicate a de facto halt in trade between the two economies.
Washington: US President Donald Trump has said he expects that Washington and Beijing will reach a tariffs agreement.
“My relationship with [Chinese] President Xi [Jinping] is great … It’s been great for a long time. We’ve had a very good relationship. And I think we’ll make a deal with China,” Trump told reporters on Tuesday. “If we don’t make a deal, we’ll set it. We’ll just set the number.”
On April 2, Trump signed an executive order introducing reciprocal tariffs on imports from other countries, including China. The duty for Chinese exporters to the US has now reached 145%, while the rate for US suppliers to China is 125%. Some experts believe that such a level of duties means a de facto halt in trade between the world’s two largest economies.
