Trump doubles down on tariffs, Iran talks, and Gaza

President Trump held a wide-ranging press conference that covered tariffs, Iran negotiations, the Houthi campaign, Gaza, and Russia-Ukraine. The dominant theme was trade: Trump made clear he has no interest in pausing tariffs, rejected the EU's zero-for-zero offer on cars and industrial goods, and escalated his threat against China by warning of a 50% surcharge if Beijing does not remove its retaliatory 34% tariff by noon the next day. The press conference also revealed direct U.S.-Iran negotiations scheduled for Saturday, a major military budget announcement, and extended remarks on the hostage situation in Gaza.

Tariffs: no pause, no retreat

When asked whether he would consider pausing tariffs to allow for negotiations, Trump answered bluntly: "Nope. Well, we're not looking at that." He described the current moment as a one-shot opportunity to reset global trade, saying "no other president's gonna do this, what I'm doing." He framed the tariffs as both a negotiating tool and a permanent fixture, explaining that "there can be permanent tariffs and there can also be negotiations" because the U.S. needs concessions beyond tariff rates — including market access, elimination of non-monetary barriers, and currency manipulation.