President Donald Trump attempted to lower the temperature in the U.S.-China trade war as both sides wrangle over tariffs and export controls.
“I’m not looking to destroy China,” Trump said.
His tone contrasts with more ominous rhetoric in August, when he said the U.S. holds the upper hand versus China.
Markets have been whipsawed by the latest round of escalation and de-escalation in the U.S.-China trade war. After stocks tumbled when Trump announced the new 100% tariff, they rebounded sharply after he said “Don’t worry about China” and vowed that everything will be fine.
Treasury Secretary Scott Bessent is due to meet Chinese Vice Premier He Lifeng this week to continue talks ahead of a meeting between Trump and Xi at the end of this month on the sidelines of a regional economic summit in South Korea.
In Trump’s latest Fox interview, he said China is “always looking for an edge” and has “ripped off our country for years.” He also reiterated that triple-digit tariffs on China aren’t sustainable and touted his positive relationship with Xi.
“I get along great with him. He’s a very strong leader a very, you know, amazing man,” he added. “And you look at what he’s done and … his life is an amazing story. It’s a story for a great movie. I think we’re going to be fine with China, but we have to have a fair deal.”
