The Blubber

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been achieved. Trump mentioned the possibility of speaking with Chinese President Xi Jinping “maybe at the end of the week,” and said China had agreed to “fully open” its market, including the removal of non-monetary trade barriers affecting U.S. goods. He clarified that the 90-day pause does not apply to tariffs on autos, steel, aluminum, or any future tariffs on pharmaceutical products.

In a confrontational moment, Trump took aim at ABC News, which reported that Qatar had offered his administration a $400 million luxury aircraft. He slammed the network as “a disaster” and said the jet wasn’t a personal gift but rather intended for the Department of Defense. Trump defended accepting the offer by pointing to Boeing’s delays in delivering a new Air Force One, saying rejecting a free aircraft would be “stupid.” He added that he doesn’t plan to use the jet after his presidency.

Trump expressed support for a potential meeting between Russia and Ukraine scheduled for Thursday and said he’s considering traveling to Turkey to attend. “I was thinking about actually flying over there,” he said. “There’s a possibility, I guess, if I feel like something could come out of it—but it needs to get done.”

On domestic policy, Trump predicted that U.S. prescription drug prices could fall by as much as 90% due to a forthcoming executive order designed to align American drug costs with those in other nations. “It’s really just a redistribution of wealth,” he said. “Europe and the rest of the world will have to pay a bit more, and America will pay far less.” He warned that countries that don’t comply with his pricing policy could face additional tariffs.

Commenting on ongoing nuclear negotiations, Trump said Iran has been “very reasonable so far” and that talks are progressing in an “intelligent” way. “I think they know I’m serious,” he said.

In response to a question from Turkish President Recep Tayyip Erdoğan, Trump suggested he’s open to lifting sanctions on Syria. “We may take them off,” he said, “because we want to give them a fresh start.”