Trump Hints at Tariff Relief Amid Market Turmoil and TikTok Talks

President Donald Trump signaled on Thursday that he is open to easing U.S. tariffs if other nations offer “something phenomenal,” hinting at possible trade negotiations. This came just a day after the White House introduced sweeping new tariffs on all imports, with harsher rates targeting countries labeled as “bad actors.”

Under the new trade policy, the U.S. will apply a minimum 10% reciprocal tariff on all imported goods. Nations that impose higher tariffs on American products will face a matching response, with Trump stating some rates will be “half” of what those countries charge U.S. exporters.

China is expected to be among the hardest hit, facing a 34% new levy in addition to an existing 20% tariff—bringing the total to 54%. Beijing currently imposes a 67% tariff on U.S. imports. However, Trump extended a possible olive branch, indicating he could reduce tariffs on Chinese goods if China approves the sale of TikTok’s U.S. operations ahead of an April 5 deadline. The president noted that a deal is close, involving several American investors.

Financial markets reacted sharply to the tariff announcement. The S&P 500 and Nasdaq 100 both recorded their steepest single-day declines since 2020, driven by a sharp drop in tech stocks amid rising fears of demand destruction and a potential global trade slowdown.

Trump’s comments offer the first indication that his administration may be open to trade compromises, particularly with key partners like China. With the TikTok deal nearing completion, it could serve as a pivotal point in de-escalating trade tensions.

This development marks a crucial moment in U.S.-China trade relations and adds pressure on global markets already sensitive to geopolitical risks and tech sector volatility.