President Donald Trump has suggested a potential reduction in tariffs if other countries offer something “phenomenal,” indicating the White House remains open to negotiations despite differing views from some key aides.
Aboard Air Force One on Thursday, Trump defended his tariff strategy, amidst a sell-off in the stock market, expressing satisfaction with falling interest rates and confidence that economic volatility will eventually stabilize.
“If somebody said that we’re going to give you something that’s so phenomenal, as long as they’re giving us something that’s good,” said Trump when asked about consideration for negotiation.
Trump emphasized his willingness to reduce tariffs on China specifically if Beijing sanctions the sale of ByteDance’s TikTok’s U.S. operations. The video-sharing app faces a crucial deadline on Saturday for divestment unless Trump extends it as part of deal-making efforts. He remarked that negotiations were nearing completion.
This came after Wall Street experienced one of its bleakest trading days since the peak of the pandemic-induced crash, with the S&P 500 losing nearly 5% and around $2 trillion ($3.1 trillion) being wiped off its value. Despite this, Trump’s stance contrasts with White House officials who assert that the extensive tariffs are not merely leverage for negotiations.
