Trump to set China tariffs in two to three weeks

As top South Korean finance and trade officials prepare to sit down with their U.S. counterparts for talks on tariffs U.S. President Donald Trump reiterated hopes for similar talks with China.

Lee Seung-jae starts us off.

Currently,.. U.S. President Donald Donald Trump has set tariffs on Chinese imports at 145%.

According to the U.S. leader, that number could come down significantly, but it'll be up to China.

Trump also hinted that a new tariff rate on Chinese imports could be decided in two to three weeks.

He also warned that if there is no deal between the two sides, Washington will unilaterally set the tariff rate.

Trump added that if China is unwilling to do business with the U.S., the rate will remain at 145%.

The comments come amid reports that the Trump administration is looking into lowering the tariff rate for China to the 50 to 65 percent range.

Trump also hinted at de-escalating tensions with China by saying on Tuesday, that 145% is too high, and that it will come down substantially.

Meanwhile, in another turnaround from the U.S. leader, he's now planning to exempt carmakers from some U.S. auto tariffs.

According to the Financial Times on Thursday, the latest move would exempt car parts from the tariffs that Trump has imposed on Chinese imports over the country's fentanyl production.

It also includes levies on steel and aluminum products.

Washington has been collecting a 25% tax on every car not assembled in the U.S, and a 25% tax on some imported auto parts is set to go into effect early May.

Meanwhile, South Korea's industry minister Ahn Duk-geun said Wednesday that Seoul aims to remove the Trump administration's reciprocal tariffs.

Ahn made the remarks upon arriving in the U.S., to hold talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer for "two-plus-two" consultations over tariff and other issues.

The minister expressed optimism that the talks will allow reciprocal tariffs on Seoul to remain suspended.

Lee Seung-jae, Arirang News.