Friday, 23 August, 2019

Donald Trump: U.S. in a 'little squabble' with China

China retaliates with higher tariffs on US goods Trump says deal with China will happen ‘when the time is right, US needs to 'make up' ground first
Steven Clarke | 15 May, 2019, 11:37

US President Donald Trump on Tuesday (May 14) called the trade war with China "a little squabble" and insisted talks between the world's two largest economies had not collapsed, as investors remained on guard for a further escalation of tit-for-tat tariffs. "It seems like President Trump has been more jovial and more upbeat in making comments that hopefully will get this trade situation squared away".

As the tariff announcements triggered stock market losses, Trump told reporters that he's hopeful a trade agreement with China can be reached at a G20 meeting in Japan in late June.

He said that his respect for President Xi of China was "unlimited", adding that the U.S. was in a "fantastic" position and "when the time is right we will make a deal with China".

"China buys MUCH less from us than we buy from them, by nearly 500 Billion Dollars, so we are in a fantastic position", he said.

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"It will always continue", said the United States president, who has announced plans to meet Chinese President Xi Jinping at a G20 summit in Japan late next month.

"As for how they are pursued, I think that hinges upon further consultations between the two sides", Geng said. The president also ordered tariffs to be raised on all remaining USA imports from China, which are valued at around $300 billion. Farmers are also suffering from extensive flooding that has delayed planting.

He urged US companies to "make your product at home in the United States of America and there is no Tariff". 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. He did not provide details on the plan, which follows US$12 billion in similar farm aid past year. The newest tariffs he's imposed on Chinese goods are not a drag on U.S. consumers, but rather in the service of a better bargaining position for a trade deal, which he'll deliver at some point, he hopes.

Global Times' stance was echoed by China's state-owned broadcaster CCTV, which declared "China will strengthen its confidence.and fight for a new world". Since then, the two sides have exchanged several rounds of trade duties, as they have yet to produce a deal.

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