Washington - Saba:
US President Donald Trump said on Saturday that there is no need to extend the moratorium on tariff increases because the United States plans to make new deals.
"We will negotiate deals, and we will make deals," Trump said in remarks aboard Air Force One en route to Rome, Italy, according to Sputnik.
Trump did not rule out the possibility of extending the tariffs for another 90 days, but indicated that this was unlikely.
On April 2, Trump announced the imposition of "reciprocal tariffs" on imports from other countries. The basic minimum rate will be 10 percent, but each country will set its own tariff at half of what it charges companies importing US goods.
On April 9, Trump announced a 90-day moratorium on tariffs on more than 75 countries to allow for negotiations on their trade imbalances with the United States. China was not among these countries.
The World Trade Organization estimates that trade volume between the United States and China could decline by 80 percent due to the reciprocal imposition of tariffs between the two countries.
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