U.S. President Donald Trump said on the 10th (local time) regarding the trade conflict with China, "I believe it will end with good results for both countries," and "I hope we can reach an agreement with China."
On this day, President Trump stated at a Cabinet meeting at the White House, "Chinese President Xi Jinping has been a true friend for a long time." He noted, "We will see what happens," while asserting, "In the end, it will be a beautiful thing."
Previously, on the 9th, President Trump decided to suspend reciprocal tariffs for more than 70 countries exempting China for 90 days and impose a basic 10% tariff. On the other hand, for China, a total tariff rate of 145%, which includes the existing 125% rate plus an additional 20 percentage points related to fentanyl, was decided.
In response, China imposed an "equal tariff" of 84%, but it showed restraint in additional retaliatory measures, adjusting non-tariff retaliation levels, such as restrictions on American films.
President Trump evaluated the European Union's (EU) decision to suspend retaliatory tariffs on U.S. steel tariffs for 90 days as "a very wise decision."
Regarding the possibility of extending the suspension of reciprocal tariffs, he left room for speculation, saying, "We will have to see what happens then." However, he added that if negotiations do not reach an agreement within the suspension period, the original reciprocal tariff rates set for each country will return.
President Trump also stated, "I want to negotiate in a 'one-stop shopping' manner that encompasses trade, industry, and security," while pointing out the imbalance in the U.S.-Japan Security Treaty. He criticized, "We spend hundreds of billions of dollars to defend Japan, but Japan has no obligation to defend us."
Furthermore, President Trump reiterated the ultimate goal of tariff policy as reducing the federal budget deficit, securing revenues in preparation for tax cuts, and improving budget deficit issues.