Will do a trade deal with China only if it is a great one for the US: Trump
Washington, Oct 4: US President Donald Trump on Friday said that he would like to have a trade deal with China only if it is a great one for his country.
A high-level Chinese delegation is coming to the US next week for talks with officials from his administration, including US Trade Representative, Robert Lighthizer, Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin.
"I'd like to do a trade deal with China, but only if it's a great trade deal for this country," Trump told reporters in response to a question at the White House.
Trump asserted that only he can deliver the best trade deal for the US. Former vice president Joe Biden, who is now running for 2020 presidential elections, will never be able to do so, Trump alleged.
"I can tell you just as an observer, what I saw Biden do with his son, he is pillaging these countries and he's hurting us," he said.
"How would you like to have, as an example, Joe Biden negotiating the China deal if he took it over from me after the election? He would give them everything. How would you like to have that? Joe Biden would just roll out the red carpet. He'd give them everything," he said.
"So, this doesn't pertain to anything but corruption, and that has to do with me. I don't care about politics. I don't care about anything. But I do care about corruption," he said.
Trump said he has a very good chance of making a deal with China.
"We have had good moments with China. We have had bad moments with China. Right now, we are in a very important stage in terms of possibly making a deal. If we make it, it will be the biggest trade deal every made. If we make it," the president said.
"But I view China as somebody we deal with on the world stage. I would like to get along with China if we can and if we can that's great. And if we can't that's great too. But what we are doing is we are negotiating a very tough deal if the deal is not going to be 100 per cent for us then we are not going to make it," Trump said.
China, he said, very much wants to make this deal. "The tariffs are killing China. What has happened is they now have 3 million loss of jobs. They are changed. They are broken up. If you look at their supply chain it is a disaster. Companies are going to other countries including us. China right now is a total disaster," he said.
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RBI keeps policy rate unchanged amid inflationary pressure
Mumbai (PTI): The Reserve Bank on Wednesday expectedly kept interest rates unchanged amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict.
The policy decision comes as a month and a-half-long West Asia conflict has disrupted energy supplies, shot up crude oil prices and created fiscal and inflationary pressures for import-dependent nations like India.
This is the first monetary policy review after the government announced a fresh inflation target for the RBI last month. The government has asked the RBI to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031.
Announcing the first bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance.
The rate cut pause comes on the back of the consumer price index (CPI) based headline retail inflation that moved closer to the RBI's medium-term target of 4 per cent at 3.21 per cent in February.
Additionally, the rupee has depreciated by over 4 per cent since the war, which has consequences for pushing up import inflation.
However, the rupee has appreciated by 50 paise to 92.56 against US dollar following announcement of the ceasefire by the US and Iran.
Based on the recommendation of the MPC, the RBI reduced the repo rate by 25 bps each in February, April, and December 2025 and 50 basis points in June amidst easing retail inflation.
India's retail inflation dropped to a historic low of 0.25 per cent in October 2025, marking the lowest level since the Consumer Price Index (CPI) series was introduced.
However, the rupee declined to historic low and crossed 95 against a dollar last month making imports costlier, raising fears of rise in inflation. Rupee touched a record low of 95.21 on March 30, 2026.
