President Donald Trump mentioned if the US nonetheless has excessive tariffs on overseas imports a yr from now, he would think about it a “complete victory.”
Trump made the remark in an interview with “Time” journal revealed Friday in regards to the first 100 days of his time period, which he’ll attain on April 30. The interview happened on the White Home on Tuesday.
In the course of the interview, which was carried out by senior political correspondent Eric Cortellessa and editor in chief Sam Jacobs, “Time” requested the president if he’d think about it a victory if “excessive tariffs, whether or not it is 20% or 30% or 50%,” had been nonetheless in place in a yr.
“Whole victory,” Trump replied, including, “As a result of the nation will probably be making a fortune.”
Trump mentioned that having zero tariffs “could be straightforward” however that it might not incentivize corporations to supply their items within the US.
The White Home didn’t instantly reply to a request for remark.
Trump has mentioned his sweeping tariff coverage would encourage corporations to construct and put money into the US. The tariffs at the moment embrace a common 10% tariff on most international locations and a 145% tariff on China. Larger tariffs on different international locations are at the moment below a 90-day pause that Trump introduced earlier this month.
Trump’s tariff announcement on April 2 tanked inventory costs and monetary markets world wide. Although there’s been some restoration, markets have remained unstable because the uncertainty round tariffs continues.
Trump has mentioned he desires to decrease or remove US commerce deficits with different international locations and that he has been in talks with leaders world wide to strike offers on commerce. He has additionally mentioned People might really feel “short-term” ache because of tariffs.
On Tuesday, the identical day Trump gave the interview to Time, he informed reporters on the White Home that tariffs on China would “come down considerably,” however to not zero.
Markets additionally reacted positively on Wednesday after The Wall Road Journal reported Treasury Secretary Scott Bessent mentioned there was an “alternative” for a giant commerce take care of China.
However Chinese language officers on Thursday denied Trump’s declare that China and the US had been in talks on a commerce deal.
Trump additionally informed “Time” he has made 200 commerce offers, although as of Friday none had been introduced.
He declined to elaborate on the offers when requested, however mentioned they’d be completed “over the subsequent three to 4 weeks.”
