Tuesday, 19 November, 2019

Trump leaves China tariff deadline open, calls relationship 'testy'

Donald Trump Why Trump Thinks 'Tariffs Are a Beautiful Thing'
Patty Aguilar | 13 June, 2019, 17:13

He also said the Chinese regime devalues its currency and subsidizes companies in order to lessen the effect of us tariffs imposed on its goods.

Trump last month started the process to impose 25 percent tariffs on another $300 billion in Chinese goods but on Monday threatened to impose the taxes immediately if Xi does not show up for a planned meeting in Osaka.

President Donald Trump is anticipating a meeting with Chinese Premier Xi Jinping at the summit which is scheduled by the end of June. So you bet I'm anxious about China - if we keep following Trump's path. What we've done in the last two and a half years, we've picked up Dollars 14 trillion in net worth of the United States.

"But now we have to wait a little bit longer to achieve that", he said, without referring directly to President Donald Trump or the trade war.

In early May, the US administration increased tariffs on $200 billion of Chinese goods after accusing the Chinese regime of reneging on commitments made over months of negotiations.

While speaking Monday on CNBC's Squawk Box, Trump said that if Xi did not meet with him at the G20, the USA would levy the additional tariffs.

The foreign ministry spokesperson hinted at further retaliation from China if Trump insists on more tariffs. "But what it's doing is creating a fair playing field, which we've never had with China since the World Trade Organisation", he said.

In reality, China's recent outreach to Russian Federation is nothing but a desperate cry for help - the communist regime is incapable of keeping up with the booming USA economy or maintaining the sky-high GDP growth necessary to mollify its oppressed population while it struggles under American tariffs.

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Since a year ago, the world's biggest economies have put tariffs on around 360 billion USA dollars' worth of each other's goods.

"China ate our country alive during Obama and Biden". In the process, the U.S President has not only aimed at China but also targeted the long-term trade allies of the United States Canada, Mexico, and European partners. Besides tit-for-tat tariff increases, the US has blacklisted Huawei Technologies Co. and threatened other major Chinese tech companies, while Beijing is drawing up a list of "unreliable entities" in the USA that could face restrictions.

The arguments for Xi to meet Trump mostly revolve around the need to prevent greater economic damage. For China, 25% tariffs could result in a drag of almost 1% on growth by 2021 if they remain in place, according to Bloomberg Economics.

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He said there's a high possibility that the two leaders will reach an agreement there. but he emphasized that China won't take further steps in the negotiations unless the US shows sincerity.

Chinese authorities say the United States is exaggerating security concerns to block a potential competitor.

Geng Shuang said Tuesday when asked by reporters about a possible meeting that the Chinese side would release information when it is available. We want to get along with China, but we had no choice.

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