China «Desperate» for Deal as Trump Threatens Tariffs

• China is «Desperate» for a Deal, Says Trump
• US Threatens 104% Tariffs
• Elon Musk Tried to Stop Tariffs

Donald Trump claimed that China is “desperate” to reach a deal on tariffs but “doesn’t know how to begin” negotiations.

The US president stated that the White House is waiting for a call from Chinese President Xi Jinping following the imposition of high tariffs between the two countries.

Trump wrote on his social network, Truth Social, that China “wants to make a deal, but doesn’t know how to start it. We’re waiting for their call. It will happen!”

Trump’s statement comes after Beijing warned that it will not back down in response to the threat of new 50% tariffs from the United States and that it will retaliate if Trump enforces the new rate.

Tariff Hike and TikTok’s Future in US–China Talks

The U.S. president mentioned that if China does not lift its reciprocal 34% tariffs by noon today, he will impose an additional 50% starting tomorrow, which would raise tariffs on Chinese products up to 104%.

The future of TikTok in the U.S. may also be part of the negotiations between the two countries. Trump has demanded that the Chinese-owned app sever ties with its parent company, ByteDance, in order to operate on American soil.

The trade war initiated by Trump began on April 2, when he introduced global tariffs of 10% and higher rates for regions like China and the European Union.

Since the start of the dispute, markets have suffered significant losses, fearful of the global consequences of a large-scale trade war between the world’s two largest economies.

The Spanish government estimates that the tariffs could impact 80% of Spanish exports to the U.S., equivalent to about €14.9 billion per year.

According to a report by The Washington Post, Elon Musk attempted to persuade Trump to lift the imposed tariffs, but was unsuccessful.

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Meanwhile, European stock markets have regained ground, with the Ibex 35 rising nearly 3%, driven by the banking sector.

Despite the tensions, negotiations could continue in both the U.S. and China in an attempt to avoid a further escalation in the trade war.

The reciprocal tariffs have already affected key sectors in both countries, putting pressure on governments to find a solution before the economic impacts become more severe.

The risk of a prolonged economic confrontation could destabilize not only the countries involved but also the global economy.

SOURCE: EFE / El País