Trump warns mutual tariffs could resume in a few weeks as negotiations continue

president Donald Trump He said Wednesday that mutual tariffs could be reimposed within weeks.

“We have been effectively ripped off by every country in the world, and our friends and enemies,” Trump said Wednesday in his oval office. “We’re not doing that anymore.”

Commerce Secretary Howard Lutnick said the administration has spoken to 90 countries that have tried to trade with the United States.

“I think what happens is, we’re going to do a lot of business, and by the way, if we don’t have a business with the company or country, we’re going to set up tariffs,” Trump said. “That’s going to happen, I’ll say it over the next few weeks.”

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“We’re going to set a number,” Trump said. “Maybe it’s for China too.”

Trump categorized the 145% tariff imposed on China as “very high” and said it could ease it, but he said it would “rely depend on it.” But so far, Trump said numbers are standing there.

“Now, it’s 145%. It’s very high. We got there for fentanyl. They send a ton of fentanyl to our country, killing and wiping out perhaps more than 200,000 people,” Trump said. “And somehow it’s mostly made in China.”

China’s Commerce Department spokesman, Yadong, said on Thursday that “there is no economic and trade negotiations between China and the US,” according to a CNBC translation from the Mandarin. “If the US really wants to solve the problem…it has to cancel all one-sided things Measures related to China. ”

Guo Zi-Kung, a spokesman for China’s Ministry of Foreign Affairs, said there will be no continued consultations with the US Thursday afternoon. CNBC reported, Quoting national media.

Trump said China’s tariffs and 25% collection by Mexico and Canada have led the US to lose between $3 billion and $5 billion a day, earning “actually making money but it’s broken.”

“We’re going to make a lot of money and that money will be used to cut taxes,” Trump said.

Trump suggests “substantially” reductions in China’s tariffs from 145%

Earlier this week, China threatened “mutual measures” Retaliation against the country It cooperates with the Trump administration’s call to isolate Beijing.

Before the 145% tariff was implemented, Trump said China had $1.1 trillion operations with the US, but “we were relatively little doing with them.”

“It basically means China is not doing business with us because essentially it’s a very high number,” Trump said. “It was one-sided, very one-sided. But we get along well. I’m doing well with President XI. You know, we can do business. Otherwise we set a price and hopefully they come here and contribute.

Beijing has already fought back against the US by imposing a 125% tariff on US imports and limiting critical mineral exports.

“China definitely wants to see it Trade wars China, China’s Principal Economist at the Economist Intelligence Institute, as it hurts both economies, told CNBC.

“Their request that the US cancel ‘unilateral’ tariffs reflect that shift,” Su said.

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“We also need to realize that this is a ‘anything’ moment for China in terms of US-China relations,” Su added. “If the US continues to escalate tensions, it would not be surprising if China adopts a more hawkish attitude.”