President Trump discussed trade tariffs on China outside the White House, revealing intentions to negotiate lower tariffs, which have been as high as 145%. He commented on the historical significance of tariffs, suggesting that transitioning to income tax has been detrimental. Trump asserted that negotiations with China are 'active' and that the U.S. was previously losing billions daily under previous administrations. He expressed optimism about reaching a fair deal with China, indicating potential for economic recovery and confidence in America's standing globally.
It looks good. We were losing anywhere from $3 to $5 billion a day. Think of it. We're losing billions of dollars a day under Biden and other presidents, frankly.
We are going to have a fair deal with China. It's going to be fair.
They know that they can't get away with it any longer, but they're still going to do fine. And we're going to be a country that you can be proud of.
145% is very high and it won't be that high. It won't be anywhere near that high. It'll come down substantially. But it won't be zero.
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