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'Substantive’ China Talks Could Yield Tariff Cut: President Trump Full Remarks
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May 8, 2025
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1:01:06Now PlayingUS President Donald Trump predicts tangible progress in trade negotiations with China, saying Beijing would be willing to make concessions and considering cutting tariffs if there is significant momentum.
Trump announces a framework trade agreement with the UK and expresses optimism about the China talks, saying promising trade news and Republican efforts to pass legislation extending and expanding his signature tax cuts should boost investor optimism.
Trump plans to raise the case of ex-media mogul Jimmy Lai in the negotiations and threatens to impose a 100% tariff on Mattel Inc.'s toys imported from China, but insists a deal would benefit both nations economically.
President Donald Trump announced a trade framework with the UK, hailing it as a “breakthrough” that US officials hoped would unlock other deals to expand market access for American goods.
Under the agreement, Trump said Thursday the UK would fast-track US items through their customs process and reduce barriers on “billions of dollars” of agricultural, chemical, energy and industrial exports, including beef and ethanol. The British government said auto tariffs would be reduced to 10% and metals duties to zero.
Trump and UK Prime Minister Keir Starmer said final details of the pact would still be negotiated over the coming weeks and statements from both governments made clear that many specifics were left to be resolved later.
The announcement is the first Trump made since imposing high tariffs on dozens of US trading partners. The president later paused those duties temporarily in order to allow nations to reach agreements with the US.
Speaking from the Oval Office, with Starmer joining by speakerphone, Trump hailed the agreement as a “tremendous trade deal for both countries.” Starmer said it was a “a really fantastic, historic day” that coincided with the anniversary of the end of World War II in Europe.
In making his first agreement, Trump chose to reward an ally that decided to broker with him rather than retaliate against his tariffs.
“Serious, pragmatic in-the-room negotiations, acting in the national interest are far better than performative politics,” Starmer said at a press conference at an auto factory later Thursday.
Despite the leaders invoking their nations’ long shared histories, officials from both governments will still need to hammer out many specifics, a painstaking process that leaves open the possibility the agreement could later collapse
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