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- Donald Trump tariffs highlights: Trump hails 'total reset' in US-China trade relations as talks continue
Donald Trump tariffs highlights: Trump hails 'total reset' in US-China trade relations as talks continue
US President Donald Trump had earlier said India "agreed" to drop its high tariffs "to nothing". "I mean, India as an example, has one of the highest tariffs in the world. We're not going to put up with that, and they've agreed already to drop it. They'll drop it to nothing. They've already agreed. They would have never done that for anybody else but me," Trump told reporters in the Oval Office.
Trump and visiting Canadian Prime Minister Mark Carney spoke to reporters as they met in the Oval Office to discuss the US-Canada trade.
"So we're going to put down some numbers and we're going to say our country is open for business and they're going to come in and they're going to pay for the privilege of being able to shop in the United States of America. It's very simple. It's very simple," he added.
In the past, Trump has called India "tariff king" and a "big abuser".
Last month, Trump had said that negotiations with India over a bilateral trade deal are "coming along great" and he thinks "we'll have a deal with India".
Puerto Rico seeks to lure manufacturing to boost its economy as Trump's tariff war deepens
A global trade war is offering Puerto Rico hope as the US territory, attempts to strengthen its fragile economy. Government officials are jumping on planes to try and convince international companies to relocate their manufacturing plants to the island, where they would be exempt from tariffs.
Any relocation would be a boost to Puerto Rico's shaky economy as the government emerges from a historic bankruptcy and continues to struggle with chronic power outages.
The island also is bracing for potentially big cuts in federal funding under the administration of US President Donald Trump, with federal funds currently representing more than half of Puerto Rico's budget.
"The tariff issue is a controversial one, but for Puerto Rico, it's a great opportunity," said Gov. Jenniffer González.
Manufacturing remains the island's biggest industry, representing nearly half of its gross domestic product. But the government wants to recapture Puerto Rico's heyday, when dozens of big-name companies, especially in the pharmaceutical sector, were based here and kept the economy humming.
Tom Cruise dodges questions on Donald Trump's 'film tariffs'
Hollywood star Tom Cruise avoided responding to a question on President Donald Trump's proposed tariffs on movies shot outside of the US during a promotional event of his latest "Mission: Impossible" film. Cruise was recently in Seoul to promote "Mission: Impossible – The Final Reckoning", the eighth film in his popular spy action franchise.
During the press conference, one of the reporters asked the actor about his views on tariffs but Cruise decided to turn down the question.
"We'd rather answer questions about the movie. Thank you," Cruise, 62, told the moderator of the event, off-mic, as quoted by entertainment news outlet The Hollywood Reporter.
US-China talks resume as Trump hails 'total reset' in trade relations
Talks between top US and Chinese officials resumed for a second day Sunday, after US President Donald Trump voiced optimism over the negotiations aimed at de-escalating trade tensions sparked by his aggressive tariff rollout.
In a Truth Social post following a first day of talks in Geneva on Saturday, Trump praised the "very good" discussions and deemed them "a total reset negotiated in a friendly, but constructive, manner".
Earlier, Chinese state news agency Xinhua also described the talks in Switzerland as "an important step in promoting the resolution of the issue".
The second day of closed-door meetings between US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng resumed shortly after 10 am (0800 GMT) Sunday.
As on Saturday, the talks were taking place at the residence of the Swiss ambassador to the United Nations in Geneva, a discrete villa with sky-blue shutters near a large park on the left bank of Lake Geneva.
"These talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China," Citigroup global chief economist Nathan Sheets told AFP, calling the tariffs a "lose-lose proposition."
US-China trade talks resume in Geneva: Swiss media
Talks between top US and Chinese officials aimed at de-escalating trade tensions sparked by President Donald Trump's aggressive tariff rollout resumed for a second day on Sunday, Swiss media reported.
The second day of closed-door meetings between US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng resumed shortly after 10 am (0800 GMT) on Sunday, the Swiss Keystone-ATS news agency reported, citing souces close to the talks.
Trump says will 'continue to work' with Kyiv, Moscow to end conflict
Trump installs statue depicting 2024 assassination attempt in Oval Office
US President Donald Trump added a new art piece to the Oval Office- a statue depicting the aftermath of the July 2024 assassination attempt against him in Butler, Pennsylvania.
The sculpture was spotted sitting on a side table next to Trump's Resolute Desk on Friday as he signed several executive orders in front of reporters.
In a post on X, the White House said, "FIGHT! FIGHT! FIGHT! Spotted in the Oval Office."
The statue depicts Trump defiantly raising his fist in the air moments after being hit in the ear by one of would-be assassin Thomas Matthew Crooks' bullets on July 13.
"Fight Fight! Fight!" Trump shouted at rallygoers at the Butler Farm Show Grounds, in the iconic moment captured by the artist.
Three Secret Service agents, including the current director of the agency Sean Curran, can also be seen in the art piece trying to usher Trump offstage.
The Oval Office statue isn't the only piece of art related to the Butler assassination attempt on display at the White House.
The painting depicts Trump moments after a bullet grazed his ear during a campaign rally in Butler, Pennsylvania, last July. Trump is shown defiantly raising his fist in the air with blood splattered across his face and the American flag in the background.
Special Assistant to the President and White House Principal Deputy Press Secretary Harrison Fields clarified in a post on X that "Obama remains in the Entrance Hall of the White House State Floor."
As Trump family's Gulf empire grows, rulers seek influence, arms, tech
Ahead of US President Donald Trump's Gulf visit next week, his son Eric was promoting his crypto firm in Dubai, while Don Jr prepared to talk about "Monetising MAGA" in Doha.
Last month, the Trump Organization struck its first luxury real estate deal in Qatar, and released details of a billion-dollar skyscraper in Dubai whose apartments can be bought in cryptocurrency.
In a monarchical region awash with petrodollars, the list of Trump-related ventures is long and growing. However, the presidential entourage is not the only party cashing in, analysts say.
"Gulf governments likely see the presence of the Trump brand in their countries as a way to generate goodwill with the new administration," said Robert Mogielnicki of the Arab Gulf States Institute in Washington.
Trump hails 'total reset' in US-China trade relations as talks continue
US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day of talks Sunday between top officials from Washington and Beijing aimed at de-escalating trade tensions sparked by his aggressive tariff rollout.
In a Truth Social post early Sunday, Trump praised the "very good" discussions and deemed them "a total reset negotiated in a friendly, but constructive, manner."
The second day of closed-door meetings between US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng are due to restart in the morning, according to an individual familiar with the talks who was not authorized to speak publicly.
"These talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China," Citigroup global chief economist Nathan Sheets told AFP.
The discussions are the first time senior officials from the world's two largest economies have met face-to-face to tackle the thorny topic of trade since Trump slapped steep new levies on China last month, sparking robust retaliation from Beijing.
The levies imposed by Trump on the Asian manufacturing giant since the start of the year currently total 145 percent, with cumulative US duties on some Chinese goods reaching a staggering 245 percent.
In retaliation, China put 125 percent tariffs on US goods, cementing what appears to be a near trade embargo between the two countries.
"This is a lose-lose proposition to have tariffs this high," said Sheets, formerly the US Treasury's under secretary for international affairs.
Ahead of the meeting, Trump signaled he might lower the tariffs, suggesting on social media that an "80% Tariff on China seems right!"
However, his press secretary Karoline Leavitt later clarified that the United States would not lower tariffs unilaterally, and that China would also need to make concessions.
Tariff tensions eased but US rules out unilateral concessions
Despite signs of progress in Geneva, the White House clarified that the US will not lower tariffs unless China makes concessions. While Trump hinted at potentially reducing duties, his press secretary Karoline Leavitt maintained that current levies would remain unless a mutual agreement was reached.
US President Donald Trump on Saturday hailed a "total reset" in US-China trade relations at the end of the first day of talks in Switzerland between senior officials from both countries.
In a Truth Social post, Trump praised the "very good" talks in the Swiss city of Geneva aimed at de-escalating trade tensions after the United States slapped steep tariffs on goods from China, drawing stiff retaliatory measures from Beijing.
"A total reset negotiated in a friendly, but constructive, manner," he said, adding: "GREAT PROGRESS MADE!!!"
Trump floats 80% tariff on China, but signals openness to deal
Trump signalled Friday that he might lower the sky-high tariffs on Chinese imports, taking to social media to suggest that an "80% Tariff on China seems right!".
"The president would like to work it out with China," US Commerce Secretary Howard Lutnick told Fox News on Friday. "He would like to de-escalate the situation."
Trump's press secretary Karoline Leavitt clarified that the United States would not lower tariffs unilaterally, and that China would need to make concessions.
US and China hold 10-hour closed-door trade talks at Swiss villa
US treasury secretary Scott Bessent and trade representative Jamieson Greer met with Chinese vice premier He Lifeng in a closed-door session at Villa Saladin, an 18th-century mansion owned by the Swiss government.Officials from both sides confirmed that talks lasted more than ten hours.
Trump accuses media outlet of campaigning for Democrats after tariff segment
US president Donald Trump lashed out at MSNBC on Friday after watching a segment that questioned the effectiveness of his global tariff plan. Trump accused the network of committing a “major campaign violation” and acting as a mouthpiece for the Democratic Party.The outburst, shared on his Truth Social account, targeted host Stephanie Ruhle and threatened financial scrutiny for MSNBC’s parent company, Comcast.Trump called Ruhle “highly neurotic” and claimed she was spreading “lies” about tariffs. Ruhle, NBC’s senior business analyst, had said that Trump may soon walk back the tariffs due to growing signs of economic trouble.Trump further accused MSNBC of being a political tool of the Democratic Party and suggested that it should face tax penalties. He also aimed at Comcast CEO Brian Roberts, saying the media group should be “forced to tell the truth.”
US-China trade talks yield no breakthrough, to resume Sunday
United States and China engaged in direct trade negotiations in Geneva, aiming to de-escalate tensions marked by significant tariff increases. US treasury secretary Scott Bessent and trade representative Jamieson Greer met with Chinese vice premier He Lifeng. Despite lengthy discussions, no immediate breakthroughs were achieved.
Read full storyChina-US trade talks begin in Geneva, says Beijing state media
Top economic officials from China and the United States commenced high-level negotiations in Geneva, Switzerland, on Saturday, according to Chinese state media. This marks the first formal round of talks between the two nations since former President Donald Trump introduced broad tariffs, escalating trade tensions between the world’s two largest economies.
"On the morning of the 10th local time, the China-US high-level economic and trade talks began in Geneva, Switzerland," state broadcaster CCTV reported.
China's consumption slide deepens as tariff war bites
China said Saturday that consumer prices slumped in April for the third straight month, reflecting persistent challenges as leaders attempt to revive an economy stymied by sluggish spending and a fierce trade war with Washington.
The world's second-largest economy has grappled with persistent deflationary pressure in recent years, as longstanding woes in the property sector and export headwinds impede growth.
The latest figures come ahead of Saturday's start to a meeting of key economic officials from China and the United States in Switzerland, offering a potential off-ramp for the high-stakes trade war launched by President Donald Trump.
US tariffs on imports from manufacturing powerhouse China now stand at a staggering 145 percent for many products -- and reach as high as 245 percent cumulatively on others.
Trump suggested Friday that the tariffs could be cut to 80 percent, though Beijing has demanded a complete cancellation of the levies that are compounding other challenges facing the Chinese economy.
US and Chinese officials meet to discuss tariffs
Senior US and Chinese officials are set to meet in Switzerland this weekend in a fresh attempt to ease a growing trade dispute that threatens to sever economic ties between the world’s two largest economies and unsettle global markets.
US treasury secretary Scott Bessent and trade representative Jamieson Greer will sit down with a Chinese delegation led by Vice Premier He Lifeng in Geneva, as both sides look for ways to dial down a damaging tariff war.
While hopes for a major breakthrough remain slim, officials are aiming to reduce the steep tariffs that have been imposed in recent weeks. Any progress could offer much-needed relief to global financial markets and to businesses that rely on cross-Pacific trade.
Tensions escalated sharply last month when U.S. President Donald Trump raised tariffs on Chinese imports to a combined 145%. China hit back with its own tariffs, levying a 125% duty on American goods. The tit-for-tat measures have pushed tariffs to levels that make trading nearly impossible, essentially turning two major trading partners into economic adversaries.
Last year, trade between the U.S. and China was worth over $660 billion. Now, with that relationship under strain, the world is watching closely to see whether this weekend’s talks can begin to mend the rift.
WTO chief calls US-China trade talks 'positive' step
WTO Director-General Ngozi Okonjo-Iweala has described the upcoming trade talks between US and Chinese officials as a "positive" move toward easing ongoing trade tensions. The scheduled meeting in Geneva, involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, aims to address the trade disputes between the world’s largest economies.
A WTO spokesperson stressed that "sustained dialogue between the world's two largest economies is critical to easing trade tensions." These talks represent the most significant diplomatic engagement between Washington and Beijing since President Donald Trump imposed trade restrictions upon his return to office. Both nations have since implemented reciprocal tariff hikes on each other's goods, creating economic instability not only within their own markets but also across the global economy.
Donald Trump hints at cutting tariffs on China ahead for key meet
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Trump considers reducing China tariffs to 80%
US President Donald Trump has suggested cutting tariffs on Chinese imports to 80% ahead of a weekend meeting, indicating a potential shift in the ongoing trade war. "80% Tariff on China seems right! Up to Scott B," Trump posted on Truth Social, referring to Treasury Secretary Scott Bessent, one of the US officials set to meet with Chinese counterparts in Switzerland.
How the end of a tariff loophole could leave online shoppers exposed to price hikes
A tariff loophole that once allowed inexpensive Chinese goods to enter the United States duty-free was eliminated last week, with potential immediate consequences for online shoppers. Items like T-shirts, stationery, and other low-cost products on e-commerce sites could see sharp price increases as shipping carriers and sellers adjust for new import taxes. Additionally, delays in deliveries are likely as customs processing becomes more intensive.
The change comes as part of President Donald Trump’s aggressive trade policies, particularly targeting China. The "de minimis" exemption, which allowed packages worth up to $800 to enter the US without tariffs, has been removed. While this exemption still applies to packages from countries other than China or Hong Kong, it no longer applies to Chinese imports.
The rationale behind the exemption had been that small import taxes were not worth collecting. However, as the value of exempted packages grew, so did the volume of such shipments. In 2023, customs data shows that over 1.3 billion de minimis shipments entered the US, equating to around 40 packages per second. The vast majority of these were from China.
Now, with the loophole closed, consumers may face higher costs and delays as shipping carriers bear the brunt of new tariffs.
US may slash 145% China tariff to around 50% ahead of key trade talks: Report
The Trump administration is reportedly considering cutting the 145% tariff on Chinese imports by more than half, possibly as early as next week. According to The New York Post, which cited sources close to the negotiations, US officials are discussing reducing the tariff to between 50% and 54%. The potential move comes as American and Chinese officials prepare for high-level trade talks in Switzerland, aimed at easing ongoing tensions.
Amid rising tensions, Trump claimed that India had agreed to eliminate its high tariffs. “I mean, India as an example, has one of the highest tariffs in the world. We're not going to put up with that, and they've agreed already to drop it. They'll drop it to nothing. They've already agreed. They would have never done that for anybody else but me,” he told reporters in the Oval Office.
The comments came during a meeting with visiting Canadian Prime Minister Mark Carney, where the two leaders discussed US-Canada trade.
“So we're going to put down some numbers and we're going to say our country is open for business and they're going to come in and they're going to pay for the privilege of being able to shop in the United States of America. It's very simple. It's very simple,” Trump added.
Trump has previously described India as the “tariff king” and a “big abuser”. Last month, he said trade talks with India were “coming along great” and expressed confidence that a deal would be reached.
