President Donald Trump told reporters in the Oval Office on Tuesday that the overall tariff level imposed on China, currently 145 percent, will come down significantly but “won’t be zero.”
China is not negotiating with the U.S. over tariffs, Beijing declared Thursday, despite President Donald Trump recently suggesting the 145% tax on its imports could be reduced “substantially.”
Ministry of Commerce spokesman He Yadong said, “Any claims about the progress of China-U.S. trade negotiations are groundless as trying to catch the wind and have no factual basis,” according to the Associated Press.
“The unilateral tariff increase measures were initiated by the United States. If the United States really wants to solve the problem, it should face up to the rational voices of the international community and all parties at home, completely cancel all unilateral tariff measures against China, and find ways to resolve differences through equal dialogue,” he continued.
“China’s position is consistent and we are open to consultations and dialogues, but any form of consultations and negotiations must be conducted on the basis of mutual respect and in an equal manner,” he reportedly added.
TRUMP HINTS AT CUTTING CHINA TARIFFS ‘SUBSTANTIALLY’ FROM 145%
Chinese President Xi Jinping and President Donald Trump are seen in Osaka, Japan, in June 2019. (Xinhua/Ju Peng via Getty Images / Getty Images)
Trump said Tuesday that the hefty tax rate of 145% Americans must currently pay for Chinese imports will likely be reduced significantly.
While Trump said the rate “won’t be zero,” he expressed optimism over a potential trade deal with Chinese President Xi Jinping.
“One hundred forty-five percent is very high, and it won’t be that high,” Trump said to reporters in the Oval Office. “It will come down substantially, but it won’t be zero.”
CHINA ACCUSES US OF ‘BULLYING’ THE WORLD WITH TARIFFS AT UN MEETING
President Donald Trump speaks to reporters in the Oval Office at the White House on April 17. (Win McNamee/Getty Images / Getty Images)
While Trump did not detail how much lower the tariff rates could be, he said a trade deal with China could potentially “work out very well.”
“They’re going to do very well, and I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together,” Trump said.
White House press secretary Karoline Leavitt also said Tuesday that “the president and the administration are setting the stage for a deal with China.”
China’s President Xi Jinping shakes hands with President Donald Trump before a bilateral meeting on the sidelines of the G20 Summit in Osaka, Japan, in June 2019. (Brendan Smialowski/AFP/Getty Images / Getty Images)
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“He wanted me to share with all of you that we’re doing very well in respect to a potential trade deal with China,” Leavitt added, also noting that “We feel everyone involved wants to see a trade deal happen and the ball is moving in the right direction.”
FOX Business’ Bonny Chu and Stephen Sorace contributed to this report.
