Biden’s China ambassador predicts ‘deal’ not ‘war’ over tariffs

In a crisis, it's important to come together,

Carney said

We will seek the views of U.K. stakeholders over four weeks until 1st May 2025 on products that could potentially be included in any U.K. tariff response,

Reynolds said in a statement

We must brace for the impact this will inevitably have. Europe has everything it needs to make it through this storm,

von der Leyen added, noting the EU is the single largest market on the planet, which she said serves as Europe’s "safe harbor in tumultuous times

Shigeru Ishibajapanese Prime Minister

We’re putting all options on the table in considering the most effective response."

Japanese Prime Minister Shigeru Ishiba said

I know that many of you feel let down by our oldest ally, ... Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe."

European Commission President Ursula von der Leyen said in a video posted to X

Japan is a country that is making the largest amount of investment to the United States,

he reportedly told his Parliament

China firmly opposes this and will take countermeasures to safeguard its own rights and interests,

China's Commerce Ministry reportedly said in a statement

We're in a situation where there's going to be an impact on the U.S. economy, which will build with time,

he added

R. Nicholas Burnsdiplomat

They're using that right now to try to leverage themselves, our position. But I do think a sustained trade war wouldn't be in the interest of either country, and that President Trump has been talking publicly about a summit meeting, and they made a trade deal the last time. So I think I would put my bet there,

said Burns

R. Nicholas Burnsdiplomat

I think that the 20% tariffs that President Trump has put on and the corresponding 20% tariffs that the Chinese have now applied to match us, they're proportional. Neither has started from a level where they're trying to set the world on fire or bring the house down in the trade relationship,

Burns said

R. Nicholas Burnsdiplomat

From what I can see, President Trump wants to have a close relationship with President Xi, that was true of President Biden as well, and that they've been talking about a summit meeting. We'll see if one is held. But in the Chinese system, you've got to get to that summit, because Xi Jinping is the person who decides everything, and so there has to be a summit meeting at some point for this relationship to take on a fuller dimension,

Burns said

It's just a guess from me, and I think from other people that we may be looking at the initial maneuvering and leveraging, which is customary in these types of negotiations. But I wouldn't be surprised if by some point this year, maybe just before or at a first summit meeting, they end up in a trade deal rather than a sustainable sustained trade war.”

He added