Trump won't reimpose 145% tariffs on China yet: Report
Trump won't reimpose 145% tariffs on China yet: Report originally appeared on TheStreet.
Crypto markets remained flat Friday, brushing off fresh geopolitical tensions as the White House has reportedly confirmed it's working to set up a call between former President Donald Trump and Chinese President Xi Jinping.
Bitcoin fell from $106,846.55 to $103,936.18, down 1.69% in the last one hour, as per Kraken's price feed.
'HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!' Trump wrote on Truth Social earlier today, slamming China for failing to comply with terms agreed upon in Geneva this month.
Two senior White House officials told CNN that Trump is not currently considering reimposing 145% tariffs on China.
Instead, the Trump team is exploring other pressure tactics. 'There are other tools at our disposal, other ways to hurt China,' one official told CNN, noting that export controls managed by the Commerce Department are among the options under review.
The potential Trump-Xi call marks a pivotal moment in U.S.-China relations. Sources told CNN that the White House sees it as a necessary next step to get China back to the negotiating table.
US officials had anticipated that China would ease export restrictions on rare earth minerals — essential components in everything from iPhones and electric vehicles to major weapons systems, such as the F-35 fighter jet and missile systems — following talks in Geneva this month, the first substantive discussions on trade since Trump imposed the tariffs.
Trump won't reimpose 145% tariffs on China yet: Report first appeared on TheStreet on May 30, 2025
This story was originally reported by TheStreet on May 30, 2025, where it first appeared.
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