Former U.S. President Donald Trump expressed hope for a resolution to the ongoing trade war with China, saying he would “love to get a deal” during a Cabinet meeting open to the press on Thursday.
Trump voiced optimism about ongoing negotiations, stating, “I think we will end up working out something good for both countries.” The meeting also saw Treasury Secretary Scott Bessent emphasize that finalizing trade agreements would help bring more certainty to U.S. trade policy.
Touching on broader international issues, Trump claimed that progress was being made toward ending the war in Ukraine, remarking, “We’re making progress on getting Russia-Ukraine war stopped.”
On the economic front, Trump proposed using tariff revenue to pay down the national debt, cut taxes, support the federal budget, and address border issues. “Would use money from tariffs to pay down debt,” he noted, reiterating that his administration would not consider exemptions for any countries or companies.
Trump also floated the idea of approaching the European Union as a single bloc in future tariff discussions, stating, “Looking at EU as one block on tariffs.”
As part of his broader trade strategy, Trump said his administration was “very close” to securing a deal with at least one country and warned that higher tariffs would be reinstated after a 90-day pause if agreements weren’t reached.
Acknowledging the market volatility tied to his tariff policies, Trump conceded there would be short-term challenges: “There will be a transition cost, and transition problems, but in the end, it’s going to be a beautiful thing.”
His remarks come amid renewed scrutiny of U.S. trade strategies and their potential global impact, particularly as Trump positions himself for a possible return to the presidency.
