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US President Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with key US allies, but his insistence on pushing forward with sweeping 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.
Trump and top administration officials on Tuesday signaled the US was open to dealmaking that could reduce or eliminate higher tariffs on dozens of nations as Asian and European leaders announced plans for talks with the White House.
Still, Trump is pushing ahead with higher duties on roughly 60 trading partners that he dubbed the “worst offenders” are set to take effect after midnight New York time. And the White House said Trump is proceeding with tariffs that would amount to 104% on many Chinese goods. That package includes previous levies applied because of the fentanyl crisis, his reciprocal tariffs, as well as an additional retaliation Trump announced after Beijing said it would tax US exports to China.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
- Bloomberg Economics Chief Economist Tom Orlik.
- Republican Congressman Pat Fallon of Texas.
- Bloomberg Politics Contributor Rick Davis and ROKK Solutions Partner Kristen Hawn.
- Wiley Rein Partner Greta Peisch.
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