Overview

• President Trump, in an ABC News interview, defended his 145% tariffs on Chinese imports, asserting that China will likely bear the costs rather than U.S. consumers.
• Polling indicates that over 70% of Americans are worried about the economy, linking tariffs to rising inflation and a potential recession.
• Trump claimed his policies have lowered costs for gasoline, groceries, and eggs, despite economists warning of higher prices due to tariffs.
• Chinese officials criticized the tariffs as harmful and contrary to international trade norms, denying active negotiations with the U.S.
• Treasury Secretary Scott Bessent suggested that China's retaliatory tariffs are unsustainable and will ultimately harm Beijing more than the U.S.