U.S. President Donald Trump indicated on Thursday that the ongoing tariff battle between the United States and China may soon ease, while any final decision regarding the fate of the social media app TikTok appears to be on hold for now.
Speaking at the White House, Trump acknowledged the economic strain caused by increasing tariffs, saying that raising them further could discourage consumer spending. “I don’t want them to go higher because people may stop buying,” he remarked, hinting that future tariff hikes may be reduced or avoided altogether to protect market stability.
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These comments come amid heightened sensitivity in global markets following the introduction of 10% tariffs on most imports on April 2, with a sharp increase specifically targeting Chinese goods, now totaling 145%. China has since opted not to escalate the situation further, stating it would not engage in a tit-for-tat tariff exchange.
Trump confirmed that China has initiated contact since the new tariffs were imposed and expressed hope for a resolution. However, sources suggest that although there is communication, formal, high-level negotiations have yet to take place. Trump declined to provide details on the discussions or whether they involved Chinese President Xi Jinping directly.
Regarding TikTok, Trump said that while a deal to spin off the U.S. operations of ByteDance-owned TikTok exists, its implementation will be postponed until trade issues with China are resolved. “We have a deal for TikTok, but it’s subject to China, so we’ll delay it until everything settles,” he said
