Trump Says China Will “Fully Open” as US Rolls Back Tariffs – Guido Fawkes

Trump Says China Will “Fully Open” as US Rolls Back Tariffs

Trump is speaking now after Scott Bessent met with Chinese officials over the weekend and climbed down tariffs. The president says a “total reset” has been achieved and that “China will also suspend and remove all of its non-monetary barriers”:

“They’ve agreed to open China, fully open China. And I think it’s going to be fantastic for China. I think it’s going to be fantastic for us, and I think it’s going to be great for unification and peace. China will also suspend and remove all of its non monetary barriers. They’ve agreed to do that. Well, they’re very numerous. The biggest thing that came out of that meeting is they’ve agreed. Now we have to get a paper, but they have agreed to open up China for everybody.”

Tariffs are down on Chinese imports from 145% to 30% and on the Chinese side from 125% to 10%. The agreement doesn’t cover everything: “doesn’t include that are already on … on cars, steel, aluminum … or tariffs that may be imposed on pharmaceutical.” Trump also says he will be speaking to Xi Jinping by the end of the week…

Wall Street has reacted well – the benchmark S&P 500 jumped up 2.9% to 5,822. Trump rolling the tariffs back one step at a time…