- President Donald Trump suggested that it would be open at the “flexibility” rate, But does not seem too eager to grant more exceptions to specific industries. Trump’s comments helped Wall Street bounce back to finish with narrow gains after the indexes initially sold on Friday morning.
President Donald Trump resisted the idea of granting more pricing relief, but seemed open to reciprocal “flexibility”.
On Friday, at the Oval Office, Trump was asked about the granting of industries at his prices.
“People come to me and talk about prices, and many people ask me if they could have exceptions,” he replied. “And once you’ve done this for one, you have to do it for everyone.”
During the first two months in power, Trump notably implemented a tariff of 20% on Chinese goods as well as on the 25% tasks apart from 25% on the goods of Canada and Mexico, but granted to the automotive industry an exemption of one month on vehicles in accordance with the American-mexico-channel trade agreement.
In addition, Trump has raised a 25% rate on all steel and aluminum while threatening rights over micropuces, and pharmaceutical imports in the United States, he also threatened to impose an obligation of 25% on all imported goods from the European Union.
“I paused the American car manufacturers because it would have been unfair if I did not do it,” said Trump, adding that he had not changed his mind on the prices.
The price on the automotive industry will return in force at the beginning of next month.
“I don’t change. But the word flexibility is an important word,” said Trump. “Sometimes it is flexibility. So there will be flexibility, but basically, it’s reciprocal.”
The White House did not immediately respond to Fortune Request for development on the use by Trump of the word “flexibility”.
Trump said the self -proclaimed “liberation day” on April 2, when he imposed reciprocal prices on countries that have allocated prices on American goods as well as value -added taxes and other non -tariff commercial obstacles.
Although market volatility on tariff concerns has ravaged Wall Street in recent weeks, the actions have gathered after Trump’s comments, bouncing after a morning sale. After dropping up to 1.6% on Friday, the S&P 500 finished 0.08% higher by day, while the Dow Jones Industrial Average and the Nasdaq Composite won 0.08% and 0.52%, respectively.
In addition, Trump announced on Friday that he planned to speak with Chinese President Xi Jinping, but did not indicate when.
China has levied reprisals on imports from American agriculture in response to the tariff of 20% of Trump, all the engaging that Trump on the country.
“I’m going to speak to President XI, to have an excellent relationship with him. We are going to have a very good relationship, but we have a deficit of billions of dollars,” said Trump.
This story was initially presented on Fortune.com
