MxM News

Quick Hit:

President Trump said the 145% tariff rate on Chinese imports will drop significantly once a deal is struck with Chinese President Xi Jinping, expressing confidence that a new agreement is on the horizon.

Key Details:

• Trump said the current 145% tariff rate on China “won’t be anywhere near that high” after negotiations.
• He pointed to his relationship with Xi Jinping as a reason for optimism.
• The White House said it is preparing the groundwork for a deal, and Treasury officials expect a “de-escalation” of the trade war.

Diving Deeper:

President Donald Trump on Tuesday told reporters that the steep tariff rate currently imposed on Chinese imports will come down substantially after his administration finalizes a new trade deal with Chinese President Xi Jinping. While the current level stands at 145%, Trump made clear that number was temporary and would be adjusted following talks with Beijing.

“145 percent is very high. It won’t be that high, it’s not going to be that high … it won’t be anywhere near that high,” Trump said from the Oval Office, signaling a shift once a bilateral agreement is reached. “It will come down substantially, but it won’t be zero.”

The tariff, which Trump previously described as “reciprocal,” was maintained on China even after he delayed similar penalties on other trading partners. Those were cut to 10% and paused for 90 days to allow room for further negotiation.

“We’re going to be very nice. They’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal because otherwise they’re not going to be able to deal in the United States,” Trump said, reinforcing his view that the U.S. holds the leverage.

Trump’s remarks come as markets remain wary of ongoing trade tensions, though the White House signaled progress, saying it is “setting the stage for a deal with China.” The president cited his personal rapport with Xi Jinping as a key factor in his confidence that an agreement can be reached.

“China was taking us for a ride, and it’s not going to happen,” Trump said. “They would make billions a year off us and build up their military with our money. That’s over. But we’ll still be good to China, and I think we’ll work together.”

Treasury Secretary Scott Bessent also said Tuesday that he expects a cooling of trade hostilities between the two nations, according to several reports from a private meeting with investors.

As the 90-day pause on other reciprocal tariffs nears its end, Trump emphasized that his team is prepared to finalize deals quickly. “We’ve been in talks with many, many world leaders,” he said, expressing confidence that talks will “go pretty quickly.”

White House Press Secretary Karoline Leavitt added that the administration has received 18 formal proposals from other countries engaged in trade negotiations, another sign that momentum is building behind Trump’s broader push to restructure global trade in favor of American workers and businesses.

(Li Xueren/Xinhua via AP)

From LifeSiteNews

By Michael Haynes, Snr. Vatican Correspondent

Visitors are invited to pray before the late pontiff’s coffin inside the basilica through Friday evening ahead of Saturday’s funeral.

Pope Francis’ remains were translated into St. Peter’s Basilica this morning, where they will now be on display for the faithful to pay their respects until Friday evening.

In a ceremony replete with Gregorian Chant throughout the procession, the bodily remains of Pope Francis were brought into the Vatican basilica from the chapel of the Casa Santa Martha guesthouse, where they had been lying in state on Tuesday.

Faithful and others wishing to view the late pope’s remains will now have a chance to do so prior to his funeral on Saturday:

• Wednesday 23 April: 11:00 a.m. until midnight.
• Thursday 24 April: 7:00 a.m. until midnight.
• Friday 25 April: 7:00 a.m. until 7:00 p.m.

At 8 p.m. on Friday evening, Cardinal Kevin Farrell, the Papal Camerlengo, will preside over the right of closing of the pope’s coffin in readiness for his funeral the next morning.

Francis died at 7:35 a.m. on Monday morning, and his death was announced to the world a little over two hours later. In accordance with ecclesial law, his death was certified by the camerlengo that day and the papal apartments he used sealed – not to be opened again until the arrival of the new pontiff.

On Tuesday his remains lay in state in the chapel of the Casa Santa Martha guesthouse, which he had made his home for the duration of his 12-year reign rather than the Apostolic Palace and the papal apartments.

His death has triggered an outpouring of statements from world leaders expressing their sympathies, with many now due to be in attendance at Saturday’s funeral. Figures such as Donald Trump, Volodymyr Zelensky, Keir Starmer, Emmanuel Macron, and Prince William are expected at the Vatican this coming weekend.

In addition, many thousands of pilgrims who had been due to attend the now cancelled canonization of Blessed Carlo Acutis are also expected to attend the funeral.

As for the start of the conclave itself and the rounds of voting to elect a new pope, the Church’s law stipulates that this must begin between 15 and 20 days after the pope dies. In this case, that would mean starting around May 6 at the earliest, and May 11 at the latest.

Pre-conclave General Congregation meetings have already started as of Tuesday morning, with the second taking place on Wednesday afternoon. These events provide an opportunity for cardinals to get to know one another, as well as to formalize practical details regarding the conclave.

Following the funeral, though, such meetings will take on an increasingly serious nature as cardinals look among themselves for a suitable candidate to become pope.