Trump: "I Prefer Not to Impose China Tariffs"... Mentions US-China Trade Agreement

Fox News Interview on the 23rd (Local Time)
Possibility of a New U.S.-China Trade Agreement with President Xi Jinping
Both Presidents Responsible for Russia-Ukraine War... Positions Himself as Mediator

U.S. President Donald Trump stated on the 23rd (local time) that he would prefer not to impose tariffs on China if possible. This was interpreted as an indication that he believes a new trade agreement with Chinese President Xi Jinping could be reached. Regarding the Russia-Ukraine war, he said that both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky share responsibility and expressed his desire to lead a ceasefire between the two countries, positioning himself as a mediator.

"The U.S. has strong leverage over China"

In an interview conducted the previous day and aired in a second segment on Fox News from the White House Oval Office, President Trump said, "We have very strong leverage over China, and that is tariffs," adding, "They do not want them." Trump also said, "I hope we don't have to use them, but it is a huge power that overwhelms China."

When asked if he could make a deal with President Xi to create fairer trade practices, Trump replied, "I can," explaining, "Because we have something they want." He described his recent phone call with President Xi as "good and friendly" and said, "I had a great relationship with them before COVID-19."

U.S. President Donald Trump expressed on the 23rd (local time) that he prefers not to impose tariffs on China if possible, raising the possibility of a new U.S.-China trade agreement. The photo shows Chinese President Xi Jinping delivering a speech at the Communist Party meeting in July last year. (Photo by Xinhua, Yonhap News)

He continued, "We lost $1 trillion to China last year because of stupid trade policies," referring to the U.S. trade deficit with China, and reiterated, "We have very big leverage over China, and that is tariffs." He also questioned the host, "China makes a huge amount of money from the U.S., which is used to build their military. Isn't that really strange?"

However, the actual value of China's exports to the U.S. is unlikely to reach $1 trillion. According to the U.S. Department of Commerce, China's exports of goods to the U.S. in 2023 amounted to $427.2 billion (approximately 567 trillion won), a 20.3% decrease from the previous year. In 2024, China remained the second-largest exporter to the U.S., behind Mexico, so a significant increase is not expected.

On the 21st, President Trump said, "We are discussing imposing a 10% tariff on China based on the fact that China is sending fentanyl (a synthetic opioid) to Mexico and Canada," and regarding the timing of imposing tariffs on China, he said, "Probably February 1." During his first term in 2018, the U.S. imposed tariffs on over 2,200 Chinese products amid trade disputes. Subsequently, the two countries reached a Phase One trade agreement in early 2020, exempting tariffs on all but 549 items, and China agreed to purchase $200 billion worth of U.S. goods, including agricultural products.

President Trump's mention of a U.S.-China trade agreement on this day is interpreted as an indication that a new trade deal could be reached to reduce the U.S. trade deficit with China by pressuring China through tariffs.

"Both Putin and Zelensky are responsible for the Russia-Ukraine war"

Regarding the Ukraine war, President Trump said, "Putin should not have done it (invaded Ukraine)" and expressed hope to lead ceasefire negotiations between Russia and Ukraine.

He added that if Russia does not accept his ceasefire proposal, "I will impose massive tariffs, taxes, and sanctions on Russia," but said, "I don't want to do that," and "I love the Russian people. They are great people."

About Ukrainian President Volodymyr Zelensky, he said, "He wants to compromise. He has done enough," and added, "He should not have let this war happen." This reflected his view that both Russia and Ukraine share responsibility for the war.

President Trump also repeated his claim that China operates the Panama Canal, saying, "China operating it is not part of the agreement made when the U.S. handed over control of the Panama Canal to Panama," and stated, "We need to take back control (of the Panama Canal)."