'We have incredible cards, but I don't want to play those cards.'
'If I play those cards, that would destroy China.'
US President Donald Trump on Monday, during a bilateral meeting with South Korean President Lee Jae-myung, said the United States will maintain a 'great relationship' with China but insisted he would not take actions that could destroy the country.
'We are going to have a great relationship with China...They have some cards. We have incredible cards, but I don't want to play those cards. If I play those cards, that would destroy China. I am not going to play those cards,' Trump said.
Earlier this month, he signed an executive order 'further modifying reciprocal tariff rates to reflect ongoing discussions with the People's Republic of China'.
Citing authority under the American constitution and several US laws, including the International Emergency Economic Powers Act and the National Emergencies Act, Trump said the measure was necessary due to continuing talks with China to address 'the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns'.
The order builds on Executive Order 14257 of April 2, in which Trump had declared that 'conditions reflected in large and persistent annual US goods trade deficits... constitute an unusual and extraordinary threat to the national security and economy of the United States,' imposing certain ad valorem duties.
Subsequent orders in April 2025, Executive Orders 14259 and 14266, raised tariff rates on Chinese imports after Beijing announced retaliatory measures.
In May 2025, through Executive Order 14298, Trump suspended the additional ad valorem duties on China for 90 days, replacing them with a revised rate of duty. That suspension was due to expire at 12:01 am on August 12, 2025.
According to the new order, China 'continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States relating to economic and national security matters'.
Based on recommendations from senior officials, Trump determined 'that it is necessary and appropriate to continue the suspension effectuated by Executive Order 14298 until 12:01 am eastern standard time on November 10, 2025'.
The order specifies that 'heading 9903.01.63 and subdivision (v)(xiv)(10) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall continue to be suspended' until that date.