Trump Signals No Tariff Increase as TikTok Deal Hinges on Trade Talks
18 April 2025 · Uncategorized ·
Source: · https://finance.technews.tw/2025/04/18/tiktok-deal-must-wait-until-trade-issues-are-resolved/
US President Donald Trump hinted on July 17th that America and China’s tit-for-tat tariff hikes, which have shaken global markets, may be nearing an end. However, a resolution regarding the fate of social media platform TikTok might need to wait.
During a White House press conference discussing tariffs, Trump stated, "I don't want them [tariffs] raised any further because once they get too high people won’t buy anymore. So I may not raise it or even go up that far. Maybe lower some of the numbers as everyone wants to sell things and if you make tariffs so high no one will purchase.” Reuters reported these remarks, suggesting a weakening in his willingness for significant tariff hikes on dozens of countries following market turmoil after announcing new duties two days prior. The Republican president has already imposed 10% duties on most goods imported from China but is currently holding off higher rates pending negotiation results.
Beijing retaliated with its own measures, resulting in US-bound Chinese products facing a cumulative tariff rate of up to 145%. Last week, China stated it would ignore any further “tariff games” if they continue, implying no more comprehensive hikes are anticipated. Trump noted that since imposing tariffs on China, the country has contacted America and expressed optimism about reaching an agreement.
Despite ongoing contact between both sides, sources told Reuters there is little high-level communication to facilitate a deal. During his press conference, he was reluctant to specify the nature of negotiations or whether Chinese President Xi Jinping directly participates.
Trump repeatedly delayed ByteDance’s legal deadline for divesting TikTok's US assets and indicated today that any agreement on this matter might depend upon resolving trade issues first. The short video app has approximately 170 million users in America. He stated, "We have a deal with TikTok but it depends on China so we will wait until the matter is resolved somehow.”
During a White House press conference discussing tariffs, Trump stated, "I don't want them [tariffs] raised any further because once they get too high people won’t buy anymore. So I may not raise it or even go up that far. Maybe lower some of the numbers as everyone wants to sell things and if you make tariffs so high no one will purchase.” Reuters reported these remarks, suggesting a weakening in his willingness for significant tariff hikes on dozens of countries following market turmoil after announcing new duties two days prior. The Republican president has already imposed 10% duties on most goods imported from China but is currently holding off higher rates pending negotiation results.
Beijing retaliated with its own measures, resulting in US-bound Chinese products facing a cumulative tariff rate of up to 145%. Last week, China stated it would ignore any further “tariff games” if they continue, implying no more comprehensive hikes are anticipated. Trump noted that since imposing tariffs on China, the country has contacted America and expressed optimism about reaching an agreement.
Despite ongoing contact between both sides, sources told Reuters there is little high-level communication to facilitate a deal. During his press conference, he was reluctant to specify the nature of negotiations or whether Chinese President Xi Jinping directly participates.
Trump repeatedly delayed ByteDance’s legal deadline for divesting TikTok's US assets and indicated today that any agreement on this matter might depend upon resolving trade issues first. The short video app has approximately 170 million users in America. He stated, "We have a deal with TikTok but it depends on China so we will wait until the matter is resolved somehow.”