During a Cabinet meeting on Wednesday, President Donald Trump designated China as the primary contender for what he referred to as the “chief-ripper-offer” in trade disputes, while attempting to minimize any potential economic ramifications stemming from his ongoing tariff initiatives.
“We’ve been ripped off by every country in the world, but China I would say is the leading … candidate for the ‘chief-ripper-offer,'” Trump remarked, asserting his position on trade policy to those present.
In the face of warnings from analysts and business leaders regarding the imminent economic fallout from his unprecedented 145% tariff on Chinese imports, the president staunchly defended his strategy. Concerns have been raised about significant disruptions to the U.S. supply chain as a result of these tariffs.
Moreover, Trump seemed undeterred by concerns that prolonged trade confrontations could lead to shortages for American consumers. “Somebody said, ‘oh, the shelves are gonna be empty.’ Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more,” he quipped during the meeting.
The previous instance of widespread consumer shortages occurred during the Covid-19 pandemic five years prior, when significant disruptions in international trade resulted from restrictions related to the virus. However, the current potential shortages would stem from the president’s strategic trade policies.
Trump further contended that the United States does not rely heavily on many of the products manufactured in China, despite the country being a dominant source of U.S. imports. “They have ships that are loaded up with stuff, much of which, not all of it, but much of which we don’t need,” he stated.
These comments coincide with the administration’s claims that negotiations with Beijing are in progress, though U.S. officials have been reticent about providing details on these discussions, such as which representatives are involved and where the talks are taking place.
Treasury Secretary Scott Bessent refrained from confirming whether he is spearheading the negotiations when asked by Finance Newso, suggesting that Trump is at the helm. “He is leading all of the negotiations,” Bessent stated.
On the other hand, Commerce Secretary Howard Lutnick indicated that the responsibility for negotiations with China rests with Bessent. Lutnick emphasized the need for de-escalation in U.S.-China trade relations, declaring, “It’s his responsibility, and the president has given that responsibility, and I — and we all hope he can bring it home,” in comments made to Newsmax.
Previously, Lutnick had remarked to Finance Newso’s Brian Sullivan that his focus is primarily on trade agreements with other countries.
In response to the U.S. position, Chinese Foreign Ministry spokesman Guo Jiakun rejected claims of active tariff negotiations with Washington, stating, “As far as I know, there have not been any calls between the two presidents recently.”
