By Charles Switzer
2:06am PDT, Apr 24, 2025
Trump's Approach to Trade Negotiations with China
On Tuesday, April 22, President
Donald Trump shared his intention not to engage in "hardball" trade negotiations with
China or to bring up COVID-19 when discussing future deals, the
New York Post reported.
Speaking to a reporter in the Oval Office, Trump said, "No, I'm not going to mention COVID. I'm not going to say, 'Oh, I'm going to play hardball with China, I'm going to play hardball with you, President
Xi.' No, we're going to be very nice."
Trump expressed his goal of fostering cooperation and continued engagement, saying, "We'll see what happens. But ultimately, they have to make a deal, because otherwise they're not going to be able to deal in the United States. And we want them involved."
He further added, "If they don't make a deal, we'll set the deal, because we're the ones that set the deal … and it'll be a fair deal for everybody."
Here's everything to know about Trump's new ideas about China.
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Treasury Secretary's Comments on Tariff War
Earlier in the day, Treasury Secretary
Scott Bessent indicated that the
Donald Trump administration's trade war with China might de-escalate soon, given the potential economic impact.
Addressing the high tariffs on Chinese products, Trump remarked, "145 percent is very high. It won't be that high. No, it won't be anywhere near that high, it will come down substantially, but it won't be zero."
This comment suggests that the administration plans to ease some of the current tariffs on Chinese goods.
Trump's Past Stance on China and COVID-19
As a candidate, Donald Trump had suggested imposing multitrillion-dollar reparations on China for the role the country may have played in the COVID-19 pandemic.
He began implementing tariffs on China shortly after taking office, initially starting with a 20 percent levy targeting illicit fentanyl exports.
However, Trump has since softened his position on financial penalties related to the pandemic, which has caused over 1 million deaths in the U.S., after possibly
leaking from a lab in Wuhan.
Bessent's Remarks and Market Reaction
Just before Donald Trump's comments, Scott Bessent made remarks during JPMorgan's closed-door investor summit in Washington, D.C., that helped boost stock prices.
He expressed optimism that a deal with China is possible, despite negotiations not having begun yet. His comments caused significant market movement, with major indices like the Dow Jones Industrial Average, Nasdaq and S&P 500 all closing up by at least 2.5 percent on Tuesday.
Bessent also highlighted the state of current trade relations, noting that, as of now, the U.S. and China effectively have a trade embargo in place due to the high tariffs — 125 percent on American products and 145 percent on Chinese goods. His remarks came amidst global discussions at the International Monetary Fund and World Bank's spring meetings in Washington, where finance ministers and bankers examined the
broader economic impact of Trump's tariffs.
China's Response to Trump's Trade Actions
On Monday, April 21, China issued a firm statement in response to the U.S.'s tariff policies.
The Chinese government declared, "China firmly opposes any party reaching a deal at the expense of China's interests," warning that any such deals would not be accepted and that China would "resolutely reciprocally take countermeasures."
The statement also criticized the U.S. for abusing tariffs under the guise of "equivalence" and forced negotiations with other countries to seek exemptions from the U.S. tariffs.
China's retaliation strategy is aimed at safeguarding its economic interests, warning that efforts to sidestep these tariffs would ultimately fail. The statement concluded, "For one's own temporary selfish interests, sacrificing the interests of others in exchange for so-called exemptions is like seeking the skin from a tiger. It will ultimately only fail on both ends and harm others without benefiting themselves."
