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Bloomberg Quint
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Trump Schedules Tariff Negotiations But Plans 104% Hit On China
- US President Donald Trump is planning to implement tariffs amounting to 104% on many Chinese goods as trade talks with China appear distant.
- Trump anticipates negotiating trade deals with countries beyond tariffs, including a positive outlook on a trade deal with South Korea.
- Despite potential agreements with other nations, tensions with China persist with Beijing showing no signs of backing down from a trade war.
- China has threatened retaliatory duties on American goods, and Trump vows further tariffs if Beijing does not comply.
- Trump's tariffs on over 60 trading partners, including China and South Korea, will go into effect, leading to a market rebound.
- The US Trade Representative reaffirmed that Trump's tariffs will be implemented while expressing willingness to negotiate for reciprocity.
- Trump has prioritized talks with allies like Japan and South Korea over engaging with China, despite pressure from other nations seeking relief.
- Conflicting signals emerge from the Trump administration on exemptions for nations seeking tariff relief, with criticisms from some aides over the tariff regime.
- Elon Musk criticized Trump's tariff announcement and called trade counselor Peter Navarro 'truly a moron' in a public post.
- Italian Prime Minister Giorgia Meloni is expected to negotiate tariff relief directly with Trump, while Wall Street braces for the impact of escalating trade tensions.
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