WASHINGTON: Former US President Donald Trump on Thursday indicated a potential slowdown in escalating tariffs on China and other countries. He also signaled that a decision on the future of social media app TikTok may be delayed until trade negotiations with China are resolved.
Speaking to reporters at the White House, Trump said he was reconsidering the plan to increase tariffs further.
“I don’t want them to go higher because, at a certain point, people don’t buy,” Trump stated. “I may want to go to less, because you know you want people to buy.”
Trade War Shows Signs of Cooling Down
Trump’s latest comments suggested a shift in tone from earlier aggressive trade measures that rocked financial markets. Earlier this month, his administration imposed a 10% tariff on most imported goods. However, further hikes were put on hold pending negotiations with Beijing.
Markets had reacted negatively to the initial tariff wave introduced on April 2. The business community expressed concern over the impact on global trade and rising import costs.
Despite the pause, Trump increased tariffs on Chinese imports—raising the total rate to 145%. China responded with its own measures but has since stated it will not play a “numbers game” with retaliatory tariffs.
China Open to Dialogue, But No Breakthrough Yet
Trump confirmed that China had reached out since the tariff increases, and he remained hopeful that both sides could reach an agreement.
“They’ve been in touch,” Trump said. “We’ll see what happens.”
However, according to Reuters, high-level, fast-moving negotiations remain absent. There is no indication of direct talks between Trump and Chinese President Xi Jinping.
Analysts suggest that while China is willing to talk, progress has stalled due to a lack of substantive diplomatic engagement.
TikTok Deal on Hold Amid Trade Talks
Trump also addressed the future of TikTok, a short-video platform owned by China-based ByteDance. The app has over 170 million users in the United States.
Previously, Trump had ordered ByteDance to divest its US operations due to national security concerns. Although a potential spin-off deal is reportedly ready, Trump said the agreement will be postponed until trade talks conclude.
“We have a deal for TikTok, but it’ll be subject to China,” Trump said. “So, we’ll just delay the deal ‘til this thing works out one way or the other.”
Follow us on Google News, Instagram, YouTube, Facebook, Whats App, and TikTok for latest updates
