President Donald Trump (left) and SEC Chairman Atkins. EPA=Yonhap News
“On the 22nd (local time), U.S. President Donald Trump stated on the issue of tariffs and trade negotiations with China, ‘If we don’t negotiate, then we (the U.S.) will decide and set the numbers ourselves.'”
On the same day, President Trump explained the situation regarding negotiations with China after the swearing-in ceremony of SEC Commissioner Paul Atkins at the White House Oval Office, saying, “The U.S. is currently in a golden age, and China wants to be part of it.”
When asked whether he agreed with White House spokeswoman Caroline Leavitt’s suggestion of progress in negotiations with China, he added, “We are doing well with China. We are doing well with almost every country.”
When asked if he would take a tough stance in trade negotiations with China, President Trump predicted, “We will treat them very nicely, and they will act very well. We will decide on the negotiations, and it will be a fair deal for everyone.”
Regarding the tariff rates on negotiations with China, he explained, “The current rate of 145% is very high,” and “(in the negotiations, the rates) won’t be that high and they will come down significantly. However, it won’t be zero (0%).”
Additionally, President Trump reiterated that prices of goods, such as groceries, have come down and urged, “The Federal Reserve should lower rates. Now is the right time,” emphasizing, “We hope the Fed Chair acts sooner rather than later.”
In relation to his recent remarks suggesting the possibility of dismissing Federal Reserve Chairman Jerome Powell if he does not respond to demand for interest rate cuts, he clarified, “I have no intention to fire him. I wish he’d be more proactive about rate-cutting ideas.”
He also expressed the view that the current financial market turmoil is a transitional phase and suggested that this situation might continue.
Meanwhile, President Trump remarked that Atkins is “the perfect person to lead the institution at a time when cryptocurrency innovators desperately need regulatory certainty and clear rules.”