STORY: President Donald Trump said on Wednesday (July 23) that the United States was in the process of completing a trade deal with China and would be setting straight tariffs for most of the rest of the world.

Speaking at an event on artificial intelligence in Washington, Trump also said Washington was in serious trade talks with the European Union and would set lower tariffs for the bloc if it opened itself up to U.S. businesses.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: U.S. PRESIDENT DONALD TRUMP DELIVERING AN ADDRESS ON "WINNING THE AI RACE" AT AN EVENT IN WASHINGTON, D.C.

SHOWS: WASHINGTON, D.C., UNITED STATES (JULY 23, 2025) (U.S. NETWORK POOL - No use USA)

1. U.S. PRESIDENT DONALD TRUMP APPROACHING LECTERN

2. TRUMP SPEAKING

3. (SOUNDBITE) (English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“But the opening up of a country is very important to us. We have numerous countries that have opened their doors. Just made some incredible transactions. But we're going to have a very, very simple tariff for some of the countries. There’s so many countries, you can't negotiate deals with everyone. So I have a straight, simple tariff of anywhere between 15 and 50%. A couple we have 50 because we have been getting along with those countries too well. So we just say let's pay 50. And that's the way it is. But remember, we get countries that we're closed, always closed. Every one in this room would never remember any of them to be open. We've offered such a deal to the European Union where we're in serious negotiations. And if they agree to open up the union to American businesses, then we will let them pay a lower tariff.”

4. TRUMP SPEAKING

5. (SOUNDBITE) (English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“And we're in the process of completing our deal with China. And as you know, the UK, we've made a deal is a very good deal for everybody. Everybody's happy. It's always nice when everybody can be happy. But mostly we'll be charging straight tariffs to most of the rest of the world because we have over 200 countries. People don't realize it's a lot of, that's a lot of deals, even if you're like me, a deal junky. That's a lot of deals that would be too much for anybody.”

6. TRUMP SPEAKING

7. (SOUNDBITE) (English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“And we're making deals with various Asian countries that need it. And it's actually hard to believe you don't think of it. But Asia is very close to Alaska, relatively speaking. It's not the closest, but it is pretty much the closest when it comes to oil and gas and energy. And we're making some incredible deals.”

8. TRUMP SPEAKING

9. (SOUNDBITE) (English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“He is producing low cost energy. We're down to $64. I want to get it down a little bit further if we can. I don't know if the oil companies love that or not, but we want to have very inexpensive electricity so that you can power up the plants because you need more electricity than any human beings ever in the history of the world. When I heard what you really need, I said, ‘You got to be kidding.’ Double what we produce right now for everything, right?”

10. TRUMP SPEAKING