Topline
President Donald Trump on Thursday signaled he is open to negotiations on reducing the reciprocal tariffs he announced on Wednesday for some countries if they make a “phenomenal” offer, contradicting statements made by his advisors and administration officials.
US President Donald Trump steps off Air Force One upon arrival at Palm Beach International Airport … More
Key Facts
Speaking to reporters on board Air Force One on Thursday, the president said his tariffs give the U.S. “great power to negotiate” and added “every country had called” to discuss them.
Trump said his tariffs put the U.S. in the “driver’s seat” and now they’ll do anything for us.
When asked if this means he is open to negotiations on cutting back some of these levies, the president said it would depend on “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.”
As an example, Trump cited negotiations for the sale of TikTok to an American company and noted, “China will probably say, ‘We’ll approve a deal, but will you do something on the tariff?’”
Shortly after taking office, Trump signaled that his tariffs targeting Chinese imports could be influenced by how Beijing handles the sale of TikTok, as the social media company’s parent, ByteDance, will need the Chinese government’s approval to complete such a deal.
Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.
What Have Other Trump Administration Officials Said On Tariff Negotiations?
In an interview with CNBC earlier on Thursday, the president’s top trade advisor, Peter Navarro, was asked what it would take for other countries to negotiate the tariffs. Navarro responded: “Let me make this very clear. This is not a negotiation…this is a national emergency.” The White House advisor said that companies will not come and set up manufacturing in the U.S. if they are made to believe “the tariffs are going to go away tomorrow.” Navarro then added that the non-tariff barriers placed by other countries are another reason why they can’t go away tomorrow. Secretary of Commerce Howard Lutnick told CNN the “president is not going to back off what he announced yesterday. He’s not going to back off.” Lutnick again echoed these remarks in a CNBC interview where he responded to questions about exemptions, saying: “I don’t think the word exemption is going to be a factor. I don’t think that’s such a thing.”
Are More Tariffs Coming?
Trump told reporters onboard Air Force One that his tariff rollouts were not yet done and certain items exempted from the reciprocal levies could be targeted next. “The chips are starting very soon,” Trump said, indicating that the existing exemption for semiconductors is only temporary. “The pharma is going to start coming in, I think, at a level that we haven’t really seen before. We are looking at pharma right now. Pharmaceuticals. It’s a separate category. We’ll be announcing that sometime in the near future.”
Further Reading
France’s Macron Says European Businesses Should Halt U.S. Investment—As Trump Tariffs Face Global Backlash (Forbes)
Trump Announces Reciprocal Tariff Rates—54% For China, 20% On EU (Forbes)
Trump Imposes Tariffs On Uninhabited Heard And McDonald Islands—‘Remotest Places On Earth’ (Forbes)
Here’s The Full List Of Trump’s Reciprocal Tariffs Announced Wednesday (Forbes)
