President Donald Trump stated that if the U.S. maintains high tariffs on foreign imports a year from now, he would view it as a “total victory.” This comment came during a recent interview with Time magazine, which focused on the first 100 days of his presidency, set to arrive on April 30. The interview took place at the White House.
When asked if he would consider it a win if tariffs remained high—whether at 20%, 30%, or even 50%—Trump replied, “Total victory,” adding that the country would be “making a fortune.”
He emphasized that while eliminating tariffs entirely would be easy, doing so wouldn’t motivate companies to produce their goods in the U.S. Trump has promoted his extensive tariff policy as a means to encourage domestic investment, which currently features a universal 10% tariff on many countries and a significant 145% tariff on China. Recently announced higher tariffs on other nations are currently under a 90-day pause.
Trump’s announcement on April 2 caused a drop in stock prices and financial markets globally. Though there’s been some recovery, market volatility persists due to ongoing uncertainty regarding tariffs. The president aims to reduce U.S. trade deficits with other nations and has engaged in discussions with global leaders regarding trade agreements, acknowledging that Americans might experience short-term challenges due to tariffs.
On the same day as the interview, Trump informed reporters that tariffs on China would “come down substantially,” though they would not be eliminated entirely. Following reports that there might be an opportunity for a significant trade deal with China, markets responded positively. However, Chinese officials later refuted claims that discussions between the U.S. and China on a trade deal were ongoing.
Trump also mentioned that he has completed 200 trade deals, although none were announced at the time of the interview, and he indicated these agreements would be finalized in the coming weeks.