Trump signals possible tariff cut in exchange for concessions from China

US President Donald Trump said Sunday that China is paying "a tremendous amount of money" in tariffs to the United States and suggested he may consider lowering them if Beijing makes new concessions as he prepares for a trip to Asia.

"We have a very good relationship with President Xi (Jinping) of China," Trump told reporters upon his return to Washington. "They're paying us a lot of money, a tremendous amount of money in tariffs. They'd probably like to have it be less, and we'll work on that, but they have to give us some things too."

He added that China currently faces "record-setting tariffs," including a 20% rate on fentanyl-related imports and a cumulative tariff rate of "about 157%" on certain Chinese goods but said he is open to adjustments depending on progress in talks.

"I want to help China — I don't want to hurt China — but it can't be a one-way street," he said.

The president confirmed plans to visit South Korea and other Asian nations "in the not too distant future," where trade, security and regional cooperation are expected to top the agenda.