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Trump says U.S. has 'done well' in negotiations with Korea, Japan, EU thanks to tariffs

Published: 22 Oct. 2025, 08:48

U.S. President Donald Trump speaks as he hosts a lunch with Republican Senators on the Rose Garden patio at the White House on Oct. 21 in Washington. [AP/YONHAP]

U.S. President Donald Trump said Tuesday that the United States has "done well" in trade negotiations with Korea, Japan and the European Union thanks to the power of his tariffs, while voicing his expectation of reaching a "fair" deal with China.

Trump made the remarks during a Rose Garden Club event, reaffirming that he will meet with Chinese President Xi Jinping in Korea when he visits the country for the Asia-Pacific Economic Cooperation (APEC) gathering set to take place in the southeastern city of Gyeongju on Oct. 31 and Nov. 1.

The Trump-Xi meeting, if held, would come amid a renewed escalation of tensions following China's move to tighten export controls on rare earths and Trump's subsequent plans to impose an additional 100 percent tariff on Chinese goods, starting Nov. 1, and implement export controls on all critical software on the same day.

"We've done well with Japan, with South Korea, with Europe [...] The European nations got together [and] we made a deal," he said. "Without the tariffs, you could have never made the deal."

Trump's praise for tariffs came as he has continued to use duties to attract foreign investments, reduce America's trade deficits, bolster domestic manufacturing and increase federal revenue.

He voiced confidence about what would come from his much-anticipated summit with Xi in Korea.

"They [China] want to discuss the fact that they're paying a 157 percent tariff. It's a little higher than they thought, he said. "We're doing very well. I think we're going to do well in that negotiation."

Trump repeated his claim that he has a "great" relationship with Xi.

"I expect to be able to make a good deal with him, and [...] I want him to make a good deal for China, but it's got to be fair," he said.

Driven by his threat to impose hefty country-specific "reciprocal" tariffs, Korea struck a framework trade deal with the Trump administration in late July.

Under the deal, Washington agreed to reduce reciprocal tariffs on Korea to 15 percent from 25 percent in return for Seoul's commitment to investing $350 billion in the United States and other pledges. But the deal has yet to go into force due to differences over how to implement Korea's investment pledge.

Yonhap