Saturday, 24 August, 2019

Trump says China will be 'hurt very badly' if no trade deal

President Donald Trump Trump says deal with China will happen ‘when the time is right, US needs to 'make up' ground first
Patty Aguilar | 15 May, 2019, 11:41

Trump's trade war is bigger than China; it's a multi-front world conflagration in which Trump is the aggressor, picking fights with world leaders and the US Congress as he foists his nationalism onto the rest of the world, sending shock waves through the global economy.

"My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn't make any sense", Trump said as part of a lengthy tweetstorm.

Trump, who has railed against what he describes as China's unfair trade practices and threatened to impose punitive levies on all its imports, softened his tone in a series of remarks expressing optimism about reaching a trade deal with Beijing.

"We can make a deal with China tomorrow, before their companies start leaving so as not to lose United States of America business, but the last time we were close they wanted to renegotiate the deal", he said.

China announced it will raise the rate of tariffs imposed on US$60 billion worth of imports from the United States from June 1 onward.

Trump has touted his relationship with Xi, and said Monday he will meet with the Chinese premier during the G20 summit in Osaka, Japan at the end of June.

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"As for how they are pursued, I think that hinges upon further consultations between the two sides", Geng said.

On Monday, he said his administration would provide about US$15 billion (S$20.5 billion) in aid to farmers whose products were targeted by Chinese tariffs. Farmers are also suffering from extensive flooding that has delayed planting. This could have a great effect on companies that manufacture their laptops, smartphones, tablets or other electronics in China, such as Apple and Microsoft, as well as one company based overseas that ships to the U.S.to sell their products.

"China does not want to fight the trade war but it is not afraid to fight it".

USA agricultural products have been targeted by China's retaliatory tariffs, and American farmers, a key political constituency for Trump, are increasingly frustrated with the failure of the two sides to find a solution to the dispute.

More than 10 rounds of negotiations have been held between the two sides, ever since the two leaders agreed to put a hold on the trade dispute on the sidelines of past year " s G20 summit in Argentina.

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