Trump admin live updates: Tariffs will be 'substantially higher' if deal not reached with China: Trump
He said the tariffs against China would "go up substantially higher" than 145%.
Stocks soar as US and China agree to slash tariffsU.S. stocks soared on Monday, just hours after the U.S. and China announced an agreement to slash tariffs for...Show more
ByKevin Shalvey, Meredith Deliso, and Sarah Beth Hensley
Last Updated: May 12, 2025, 11:47 PM +06
President Donald Trump is expected on Monday to embark on an official visit to the Middle East, a major international trip during which he and his diplomats will continue pushing for peace between Russia and Ukraine and in the Gaza Strip.
The U.S. and China issued a joint statement on Monday announcing an agreement to cut reciprocal tariffs for 90 days, a move that U.S. markets appeared to favor. Stock futures climbed on the news
Tariffs would be 'substantially higher' if deal not reached with China: Trump
President Donald Trump said Monday the tariffs against China would "go up substantially higher" than 145% if a longer-term trade deal is not reached before 90 days.
"I think you will have a deal, however," he added during remarks at the White House earlier Monday.
Trump said that maybe he will be speaking with Chinese President Xi Jinping by the end of this week.
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