President Donald Trump said he was open to reducing his tariffs if other nations were able to offer something “phenomenal,” indicating that the White House was open to negotiations despite the insistence of some top officials.
Trump, speaking on Air Force One on Thursday, broadly defended his tariff program despite a selloff in the stock market, saying he was happy that interest rates were falling and believed that economic turbulence would settle.
He also reiterated that he would in particular be willing to offer tariff relief for China if Beijing approved the sale of the US operations of ByteDance Ltd.’s TikTok social video app. The service is facing a Saturday deadline for divestment, unless Trump offers an extension as part of his efforts to broker a deal.
Trump also indicated he had spent the day in conversations with parties seeking tariff relief. The president said he spoke to automaker executives on Thursday, as well is Israeli Prime Minister Benjamin Netanyahu, who Trump said could visit the US next week.
Israel earlier this week removed its tariffs on US goods in hopes of being spared from Trump’s tariffs, but the White House announced that Israeli goods would face a 17 per cent rate.
The US president also said he believed the United Kingdom was happy about its treatment under his new tariff regime. The UK is facing the minimum 10 per cent tariff, while European Union nations have seen a 20 per cent rate imposed.
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