Trump's ‘art of the deal’ becomes laughing stock online after China tariffs climb down

Donald Trump is 'folding' to China over tariffs - or at least, that's what social media users would have you believe.

The president has appeared to signal a U-turn on tariffs on Chinese goods after weeks of trade war speculation – and people have been quick to mock his ‘art of the deal’ on social media.

Over recent weeks, the back and forth has seen Trump raise tariffs on Chinese goods to 145 per cent, before China hit back with 125 per cent duties on US goods.

The White House has been insisting that the move has been a success, but the financial markets have experienced record drops and sparked worldwide recession fears.

Now, Trump has conceded that the 145 per cent tax Americans currently pay for most imported goods from China after trade talks took place.

The President spoke in the Oval Office after a swearing-in ceremony for Securities and Exchange Commission Chair Paul Atkins. He said that talks with China were “doing fine” because “everybody wants to have involvement” in American markets.

Getty Images

“Ultimately, they have to make a deal, because otherwise they're not going to be able to deal in the United States, and we want them involved, but they have to, and other countries have to make a deal, and if they don't make a deal, we'll set the deal,” he said.

“We're going to be setting the deal, and it'll be a fair deal for everybody and it'll be — I think it's a process that's going to go pretty quickly.”

Asked whether he’d ultimately drop the tariffs he’s imposed on Chinese imports, Trump replied: "It'll come down substantially. But it won't be zero."

People on social media have been quick to criticise Trump’s tactics throughout the entire trade war – referencing his book The Art of the Deal and accusing him of being completely shown up by China in the negotiations.

One social media user posted a mocked-up picture of Trump and China's President Xi Jinping playing poker - it shows Trump go "all-in", before Xi Jinping calls and forces Trump to fold.

"He went from bombastic on his trade war to admitting he's not going to play hardball," another user wrote.

"China is winning by not doing anything and simply waiting. Trump master tariff war is exploding in his face. This is the art of the deal," user Cyrus Janssen wrote.

"Trump is folding to China. Art of the deal," another wrote.

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