In this live update, President Donald Trump escalates tensions with China by threatening an additional 50% tariff on Chinese imports if the country doesn't stop its long-term trade abuses. With global stock markets already reeling, Trump's aggressive stance on tariffs could have serious repercussions for the global economy. As China vows to "fight to the end," the world braces for what could be a massive trade war. Stay tuned as we track the latest developments, market reactions, and diplomatic fallout.
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NewsTranscript
00:00That tariff isn't removed by tomorrow at 12 o'clock.
00:03We're putting a 50% tariff on above the tariffs that we put on.
00:08I have a great relationship with President Xi.
00:10I hope it's going to stay that way.
00:12I have great respect for China.
00:13But they can't do this.
00:16We're going to have one shot at this.
00:18And no other president is going to do this, what I'm doing.
00:20China.
00:21We're going to open up China.
00:23It was almost done.
00:24Some of you remember it during my first term.
00:26And it was very disappointing.
00:27We ended up making a great deal.
00:29$50 billion worth of product was sold.
00:32$50 billion.
00:33You'd like that in Israel.
00:35And I made that deal.
00:37Any questions?
00:46Well, we're not looking at that.
00:48We have many, many countries that are coming to negotiate deals with us.
00:53And they're going to be fair deals.
00:54And in certain cases, they're going to be paying substantial tariffs.
00:59They'll be fair deals.
01:01As you know, I spoke this morning with the Prime Minister of Japan,
01:06and we had a very good conversation.
01:07They're coming.
01:09And I said, one thing, you're going to have to open up your country
01:11because we sold no cars, like zero cars in Japan.
01:15And they sold millions of cars into our country.
01:19They don't really take our agriculture, a little bit of it,
01:21just to keep us slightly happy.
01:23But they don't take what they're supposed to be taking.
01:25So we have a great relationship with Japan.
01:28We're going to keep it that way.
01:28But they're coming in to meet, and other countries are coming in.
01:33With China, as you know, against my statement,
01:37they put a 34% tariff on above what their ridiculous tariffs were already.
01:44And I said, if that tariff isn't removed by tomorrow at 12 o'clock,
01:49we're putting a 50% tariff on above the tariffs that we put on.
01:54So they've gone for years.
01:55They've become a rich country because of people, again,
01:57that were in the White House that allowed this to happen.
02:02Hundreds of billions of dollars a year they'd make on us on trade.
02:05And it shouldn't be that way.
02:06And I have a great relationship with President Xi.
02:10I hope it's going to stay that way.
02:11I have great respect for China.
02:13But they can't do this.
02:15We're just — we're going to have one shot at this.
02:18And no other president is going to do this, what I'm doing.
02:21And I'll tell you what, it's an honor to do it
02:24because we have been just — just destroyed what they've done to our system.
02:29You know, we have $36 trillion of debt for a reason.
02:33And the reason is that people allowed it to get that way.
02:36So we'll be talking to China.
02:40We'll be talking to a lot of different countries.
02:43And I think, you know, if we can make a really fair deal
02:48and a good deal for the United States — not a good deal for others.
02:50This is America first.
02:52It's now America first.
02:54And we didn't put America first.
02:56We put America last.
02:57The people that were in the Oval Office put America last.
03:00And we're not going to stand for it.
03:01Yeah.
03:02The Press.
03:02Mr. President, do you expect any of these deals to be made before April 9th?
03:15And secondly, there have been some mixed messages from your administration.
03:18You're talking about negotiations,
03:20and yet others in your administration are saying
03:22that these tariffs are actually permanent.
03:24What is the actual — what do you think?
03:25Well, it could be — they can both be true.
03:28There can be permanent tariffs, and there can also be negotiations
03:32because there are things that we need beyond tariffs.
03:34We need open borders.
03:35You know, we almost had a deal with China where we're going to open up China.
03:39It was almost done.
03:40Some of you remember it during my first term.
03:43And it was very disappointing.
03:44We ended up making a great deal — $50 billion worth of product was sold.
03:49Fifty billion.
03:49You'd like that in Israel.
03:51And I made that deal, but it wasn't the deal that I wanted.
03:54It was — the deal that I wanted was that, plus they were going to open up China
03:59so that our companies could go into China and compete with other countries
04:04and China for the — you know, for a large number of people.
04:08And at the very end, that deal was terminated, and we went to a piece of the deal.
04:14And there — so there are a lot of things outside of tariffs,
04:17but tariffs are very important.
04:18But there are a lot of things like opening up countries that were totally closed.
04:22China is essentially a closed country.
04:25In fact, it is a closed country.
04:27And what they do is they charge tariffs so that if you sell cars or if you sell anything,
04:34nobody is going to buy it because the price is out of control.
04:36But that's true with a lot of other countries also.
04:38So we're going to get fair deals and good deals with every country.
04:43And if we don't, we're going to have nothing to do with them.
04:45They're not going to be allowed to participate in the United States.
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