On May 5, 2025, U.S. President Donald Trump reiterated his commitment to securing a fair trade agreement with China, amidst escalating tensions marked by significant tariffs imposed by both nations. Speaking aboard Air Force One, President Trump acknowledged that while no immediate discussions with Chinese President Xi Jinping are planned, U.S. officials are actively engaging with their Chinese counterparts. He hinted at the possibility of announcing trade agreements within the week, though specifics were not disclosed.

This development follows President Trump’s April 2 announcement of a two-tier tariff structure, dubbed “Liberation Day.” The policy introduced a universal 10% tariff on imports from most countries, excluding Canada and Mexico, and higher, country-specific tariffs based on perceived unfair trade practices. Notably, a 145% tariff was imposed on Chinese goods. President Trump has suggested that these tariffs could become permanent for certain countries if equitable trade agreements are not reached.

In response, China has implemented its own set of tariffs and is reportedly evaluating a U.S. proposal to initiate trade talks. While expressing openness to dialogue, Chinese officials have cautioned against what they perceive as coercive tactics by the U.S. Despite public denials of seeking negotiations, China has quietly exempted certain U.S. products, such as pharmaceuticals and microchips, from its retaliatory tariffs.

President Trump’s administration maintains that the current trade dynamics with China are unsustainable and detrimental to the U.S. economy. He has criticized past trade relations and suggested that the initial establishment of diplomatic ties with China under President Nixon was a misstep. Despite the near halt in bilateral trade, President Trump remains optimistic, stating in a recent NBC interview that China is eager to reach a fair deal.

President Trump said on May 5, 2025, that he wants a “fair trade deal” with China as tariffs continue to impact global markets. Although no direct talks with President Xi are currently planned, U.S. officials remain in contact with Beijing. Trump emphasized that China “wants to make a deal” and hinted that announcements could come soon. This follows his sweeping tariff policy and growing economic strain.

Source: Reuters