Trump downplays trade war impact: Fewer toys, higher costs

On Wednesday, Trump suggested that due to the trade war with China, Americans "will have to adjust their spending and consumption habits".

The US President attempted to downplay the disruptions in trade exchanges with China following the introduction of mutual tariffs.

He said that "Americans do not need cheap Chinese knock-offs". He further added, "Well, maybe the children will have two dolls instead of 30 dolls. So maybe the two dolls will cost a couple bucks more than they would normally".

Trump argued that "the end result is worth the current disruptions."

Last week, Chinese Foreign Ministry Spokesperson Guo Jiakun denied media reports at a press conference that China and the United States were negotiating tariffs and were close to reaching an agreement on this matter.

"As far as I know, China and the United States are not engaged in any consultation or negotiation on tariffs," he stated.

He also noted that the "tariff war initiated by the United States" is ongoing, and Beijing's stance remains "clear and unchanged." "We will fight, if fight we must. Our doors are open, if the U.S. wants to talk," but the dialogue must be based on equality, mutual respect, and benefits for both parties, he emphasized.

A few days ago, The Wall Street Journal reported that the US President's administration is considering a significant reduction in tariffs on goods imported from China as part of efforts to ease trade tensions. According to sources from the newspaper, tariff rates could drop from 145% to 50-65%.

On the same day, US Treasury Secretary Scott Bessent expressed hope for reaching a "major agreement" with China, which would lead to the Chinese economy shifting toward greater internal consumption and the American economy toward increasing its industrial share.