‘Getting along well': Donald Trump on trade ties with China
United States President Donald Trump signaled that things are going 'well' in China while talking about trade ties with the Asian country. Donald Trump's remarks come after the White House indicated positive developments in trade relations with China last week.(File/AFP)
While talking about the trade deficit and ties with China, Trump said, "We're getting along well with China." He made the remarks while appearing on 'Sunday Morning Futures with Maria Bartiromo' show.
'I think getting along with China is a very good thing, but they are paying substantial tariffs," Trump added.
Trump's remarks come after the White House indicated positive developments in trade relations with China last week. According to an official, both countries have come to a mutual understanding on key matters including such as speeding up the export of rare earth materials to the US, reported AFP.
The US and China also agreed to temporarily ease the high retaliatory tariffs they had imposed on each other after negotiations in Geneva in May.
Trump also bashed former US President Joe Biden and his administration for having a big trade deficit with China.
'...We have a big trade deficit with China. Biden let it get up to a trillion dollars, think of it, a trillion dollars deficit with one country. He let them just take over the coals, we're not gonna do that. But we're doing a rare-earths deal but remember, we have all of the airplane parts, they can't fly their airplanes without us. So we had some cards also,' Trump said.
'We have a deal with China, it's a good deal hopefully for everybody. We had a deal with China where it was 145% tariffs, and I will tell you, everything stopped in China. I saw that. Everything stopped, and we did China a favour,' he added. Trump on TikTok deal
President Donald Trump has disclosed that 'a group of very wealthy people' will soon purchase TikTok. He said that his government has found a buyer for TikTok, but he did not identify the firm, saying he will reveal so in 'about two weeks.'
'We have a buyer for TikTok… I'll need probably China approval and I think President Xi will probably do it… It's a group of very wealthy people,' he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Asian markets show optimism: Stocks steady as US-Canada trade talks progress; eye on US jobs data due this week
AI-generated image Asian equity markets showed strength on Monday, buoyed by optimism over US-Canada trade negotiations and sustained demand in the global technology sector. However, gains were tempered by concerns around upcoming US employment data, which weighed on the dollar. Japan's Nikkei led the region with a 1.6 per cent gain, supported by strong performances in tech and export-oriented stocks. South Korea's benchmark index also rose 0.8 per cent, following a positive lead from Wall Street. Chinese markets were mixed. The blue-chip CSI300 index edged up 0.2 per cent, helped by improved June data in manufacturing and services, while broader Asian sentiment remained cautious. The MSCI Asia-Pacific ex-Japan index dipped 0.2 per cent. The market gains came amid encouraging signals from North America, where Canada on Sunday agreed to drop its proposed digital services tax in a bid to move forward trade negotiations with the US. Talks, originally slated to wrap up by July 9 under President Donald Trump 's directive, have now been extended to July 21, with a potential finalisation by Labor Day (September 1). This is a significant turning point as Trump had announced suspension of trade talkswith Canada just days ago. Read more: US-Canada trade talks resume as PM Carney revokes tax on US tech firms Tech stocks continued to drive momentum globally, with Nasdaq futures up 0.4 per cent and S&P 500 e-minis rising 0.3 per cent. Heavyweights such as Nvidia, Alphabet, and Amazon remained in focus. Still, investor attention remains fixed on key US macroeconomic data and fiscal policy developments. A Senate vote on major tax and spending legislation remains uncertain ahead of Trump's July 4 deadline. The Congressional Budget Office's projection of a $3.3 trillion increase in national debt is also dampening global appetite for US Treasuries. The US jobs report- due early this week due to Friday's holiday- forecasts 110,000 new jobs in June, with unemployment possibly ticking up to 4.3 per cent. A weaker labour market could increase expectations of Federal Reserve rate cuts later this year, currently pricing in a cumulative 63 basis points reduction. The dollar slipped to 97.146 on the dollar index, with the euro climbing to $1.1727, its highest since September 2021. Sterling also hovered near multi-year highs at $1.3722. James Reilly of Capital Economics noted the greenback's recent slide marked its sharpest sustained decline since the move to free-floating exchange rates in 1973. Meanwhile, gold traded at $3,279 an ounce- below its April peak- and oil prices continued to drop, with Brent crude at $67.50 and US crude at $65.09 amid ongoing concerns over OPEC+ supply levels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
38 minutes ago
- Time of India
US-Canada trade talks resume: PM Carney revokes tax on US tech firms; Trump had called off talks over 'digital tax'
Canadian Prime Minister Mark Carney on Monday said trade talks with the United States have resumed after his government "rescinded its plan to tax American technology firms". The move by Ottawa comes after US President on Friday suspended trade talks with the neighbouring nation over its plans to continue with its tax on US tech firms, which he called "a direct and blatant attack on our country". Tired of too many ads? go ad free now Canadian finance minister Francois-Philippe Champagne said his government anticipated "a mutually beneficial comprehensive" trade arrangement with Washington. "...Canada would rescind the Digital Services Tax (DST) in anticipation of a mutually beneficial comprehensive trade arrangement with the United States," a government statement said, according to news agency AP. It added that Trump and Canadian PM Carney "have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025." Trump, in a post on his social media network last Friday, said Canada had just informed the US that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax was set to go into effect today. On Friday, Trump came down hard on Canada over its to decision to impose a Digital Services Tax (DST) on American technology companies, calling it a "direct and blatant attack" on the United States. In a post on his social media platform Truth Social, Trump announced the immediate suspension of all trade discussions with Canada the same day. In a sharply worded statement, Trump declared that the US would soon impose tariffs on Canadian goods. 'We will let Canada know the tariff that they will be paying to do business with the United States of America within the next seven-day period,' the post warned. Canada's digital services tax, first proposed years ago, is aimed at ensuring that large multinational tech firms, many of which are US based, pay taxes on revenues generated from Canadian users. The policy has drawn criticism from US lawmakers and trade officials who argue it disproportionately targets American companies like Google, Amazon, and Meta.
Time of India
38 minutes ago
- Time of India
Trump's 'Beautiful' effect? Thom Tillis exits from Congress; what this reveals about fate of GOP moderates
Senator Thom Tillis of North Carolina announced Sunday that he would not seek re-election in 2026, a day after voting against the 'Big Beautiful Bill' backed by US President Donald Trump. The 64-year-old is the latest in a series of Senate moderates to step aside in recent years. "In Washington over the last few years, it's become increasingly evident that leaders who are willing to embrace bipartisanship, compromise, and demonstrate independent thinking are becoming an endangered species," Tillis said in a statement posted on X. Trump, meanwhile, remarked Tillis' exit as a "great news" and said, "For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don't go too crazy! We will make it all up, times 10, with GROWTH, more than ever before." Does the exit reflect a wider issue? For moderates in the GOP, Tillis' retirement underscores a stark reality -- breaking with Trump can mean political isolation or an early exit. Trump loyalists wasted no time framing Tillis' decision as a victory. 'Don't Cross Trump,' declared Jason Miller, a top Trump adviser, signaling that defiance of the president comes at a steep price. "He received 77.3 million votes, 312 electoral votes, and he overwhelmingly won the popular vote. The voters gave him a mandate to implement a specific agenda, and they want everyone to get behind his efforts!" Miler said. Tillis, who often tried to balance loyalty to Trump with his own policy convictions, found himself repeatedly squeezed. From his skepticism about Trump's defense secretary pick to his votes on domestic policy, Tillis increasingly became a target for Trump's ire, and potential primary challengers. His final months in office, as he hinted, may be his freest, as he no longer faces the constraints of re-election politics. "I look forward to having the pure freedom to call the balls and strikes as I see fit and representing the great people of North Carolina to the best of my ability," he said in the statement. Does Tillis' exit ultimately signal that the GOP's center is hollowing out? As moderates retreat or are forced out, Trump's grip on the party tightens, leaving little room for dissent or the kind of bipartisan deal-making that once defined Senate veterans like Tillis. The 2026 elections will likely show just how far that transformation has gone.
