Tariffs dwell: White House insists nations want US markets to outlive as ‘phones ringing’ to make commerce offers
The White House has insisted that trade partners ‘need the United States of America’ as global share markets fluctuate after China increased its tariffs on US imports to 125 per cent.
Donald Trump’s press secretary said over 75 countries had approached the US government to negotiate fresh trade deals in the wake of his “Liberation Day” measures.
“They’ve made it very clear. They need the United States of America. They need our markets. They need our consumer base,” she told a press briefing after China vowed to ‘fight to the end’ in the trade war.
China’s tariff hike, hitting back against Donald Trump‘s decision to hike duties on Chinese goods to 145 per cent, will come into effect on Saturday.
The US president said America was “doing really well” on its tariff policy on Friday afternoon while Chinese President Xi Jinping made his first public comments on the tariff war, urging the European Union to join China to “oppose unilateral acts of bullying”.
Reacting to the news, the US dollar index fell 1.2 per cent to 99.50, marking its lowest level since April 2022.
Trump optimistic on reaching deal with China, White House says
Donald Trump is optimistic about reaching a trade deal with China, White House press secretary Karoline Leavitt said on Friday, amid an escalating trade war between the two economic giants that has battered markets.
“The president has made it very clear he’s open to a deal with China,” Leavitt told a press briefing. “If China continues to retaliate, it’s not good for China,” she added.
‘They need the US markets to survive’, White House gives update on tariff negotiations
The White House has insisted that trade partners ‘need the United States of America’.
Donald Trump’s press secretary said over 75 countries had approached the US government to negotiate fresh trade deals.
“They’ve made it very clear. They need the United States of America. They need our markets. They need our consumer base,” she told a press briefing.
She added: “We’ve heard from South Korea. We’ve heard from Japan. The president has spoken to Vietnam. We have Italy coming to the White House next week.
“There’s a reason for that, Sean, and it’s because they need the United States of America and our business model and our markets to survive, and the President is using that leverage to our advantage.”
Deal on tariffs could be ‘weeks away’
Journalists in the White House briefing room say they have been told by government sources that the first deal with a country on a tariff deal is “weeks away”.
When asked whether this was true, Trump’s press secretary did not reveal which country this could be, but said: “Very good progress has been made.
“Jameson Greer was on television this morning, and I spoke to him, and he confirmed that more than 15 offers are already on the table, which is remarkable, in just a mere matter of days.
“And as I said earlier, we’ve heard from more than 75 countries around the world.”
‘He will punch back harder’ – Trump’s press secretary
Donald Trump’s press secretary has been answering questions on the president’s plans for Chinese tariffs.
Karoline Leavitt said Trump was “optimistic” about a deal being struck, but did not give reasoning behind this.
She added: “The President made it very clear, when the United States is punched, he will punch back harder.
“He hopes to make a deal that benefits the American worker and our companies that have been ripped off for far too long, and he’s finally taking bold and courageous action to do that.”
US to use tariff revenue to pay debts
When asked about plans the US government had for money raised by tariffs, Karoline Leavitt said: “The president has spoken about the trillions of dollars that he expects in revenue from tariffs, and how we can use it to pay down our debt and to ensure that we are no longer faced with a triple crippling national debt in the trillions that is going to bankrupt our nation for future generations.
“So that money coming back home will make America in the green rather than in the red, which any small business owner across the country, I believe, can appreciate.”
‘Phone ringing off the hook’ – White House on trade negotiations
Donald Trump’s press secretary Karoline Leavitt said the White House’s phones have been “ringing off the hook” as over 75 countries try to negotiate a trade deal with the US.
“More than 75 countries have now reached out to the Trump administration, eager to address the trade issues that have exploited America and hurt our workers,” she said.
“In the process, the phones have been ringing off the hook to make deals, and these countries wisely heeded president Trump’s warning not to retaliate, and as a result, they were rewarded with a 90 day pause and substantially lower reciprocal tariff rates during this period so potential solutions can be achieved.”
White House highlights economic success amid market uncertainty
The US dollar index fell 1.2 per cent to 99.50 on Friday, marking its lowest level since April 2022.
But the White House has insisted the American economy is on the up.
Donald Trump’s press secretary Karoline Leavitt said in a press briefing: “More excellent economic news that was released yesterday, the Consumer Price Index report showed inflation fell to 2.4 per cent in March, smashing expectations for the second straight month in a row. This marked the first drop in consumer prices dating all the way back to the COVID pandemic.
Prescription drug prices saw the largest monthly decline on record.
“Prices for airfare, used vehicles and car insurance all decreased as well, and energy prices fell 2.4 per cent in March, driven by plummeting gas prices around the country.”
White House press briefing begins
Donald Trump’s press secretary Karoline Leavitt has begun her press briefing.
She will answer questions on behalf of the White House.
She begun the press conference speaking about Donald Trump’s health check up and the release of US-Russian dual national, Ksenia Karelina, who had been detained in Russia, in a prisoner swap in Abu Dhabi.
White House press briefing to begin soon
We are expecting the White House to begin a press briefing in the next few minutes.
Donald Trump’s press secretary Karoline Leavitt will be answering questions from journalists as the tariff row between the US and China continues.
