As he advances his economic agenda, US President Donald Trump has seemed to moderate his previous remarks about China and the chairman of the US Federal Reserve following recent conflicts.
After frequently blasting the head of the central bank, he stated that he had “no intention of firing” Jerome Powell, although he did say that he would prefer Powell to be “a little more active” in lowering interest rates.
Additionally, Trump expressed optimism about bettering trade relations with China during his Tuesday speech in the Oval Office. The amount of import levies, or tariffs, that he had placed on Chinese products will “come down substantially, but it won’t be zero,” he added.
The goal of the president’s tariffs is to entice businesses and jobs back to the United States. This and a reduction in interest rates, which would lower the cost of borrowing for Americans, are key components of his economic program.
Trump raised the tariff on Chinese imports to 145%, prompting Beijing to retaliate and prompting analysts to warn about the effects of a trade war on a global scale. In an attempt to reach a trade agreement, Trump told reporters on Tuesday that he would be “very nice” in talks with Beijing.
Also Read:
Nvidia is Driving Down Technology Equities, Which Lowers Wall Street
Harvard Simply Confronted Trump. What is the Maximum Duration?
