'Somebody had to do it': Trump on raising China tariffs to 125 pc

Washington DC [US]: US President Donald Trump on Wednesday (local time) defended his decision to raise tariffs on China to 125 per cent, stating, "somebody had to do it."

Trump calls trade imbalance with China 'unsustainable'

During a White House event honouring Roger Penske’s NASCAR, INDY, and IMSA champions, Trump argued that the tariff hike was necessary. He claimed no other US President would have taken such a bold step and described the previous trade arrangement with China as deeply flawed. “Last year, China made USD 1 trillion off trade with the United States… Now I’ve reversed it,” he said.

Warning against retaliation

Addressing the recent 90-day pause on reciprocal tariffs for over 75 countries, Trump explained he had made the offer to nations that chose not to retaliate. “I told them if they retaliate, we’re going to double it. And that’s what I did with China because they did retaliate,” he said.

Optimism about future trade deals

The President expressed confidence in the long-term success of his trade strategy. He predicted that by the end of the year, or possibly sooner, the US would secure a deal “nobody would have dreamt possible.”

EU trade deal also on Trump’s radar

Trump also criticised the European Union, claiming it had not treated the United States fairly in trade. “They were sucking us dry and you can’t do that,” he said, adding that future deals would be “fair deals” made with all.

Praise for racing champions and light-hearted moments

In a lighter segment, Trump praised the championship-winning drivers for their courage and skill. He jokingly commented on the high-speed vehicles, recalling a personal experience in “The Beast” during the Daytona 500 and adding, “I wouldn’t ride in that thing if you paid me,” in reference to an IndyCar machine.

China retaliates with sharp tariff hike

Earlier, Trump had announced the immediate increase in tariffs to 125 per cent on Chinese goods. This followed China’s declaration of raising its tariff on US goods from 34 per cent to 84 per cent, effective April 10, in response to earlier US hikes, including a recent 104 per cent tariff and a threatened additional 50 per cent.

(With ANI inputs)