WASHINGTON: US President Donald Trump (pictured) said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 per cent from the current 10 per cent and repeated his threat to slap tariffs on all remaining imports from China.
In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was “highly unlikely” he would accept China’s request to hold off on the increase, which is due to take effect on January 1.
“The only deal would be China has to open up their country to competition from the United States,” Trump told the Journal. “As far as other countries are concerned, that’s up to them.” Trump, who is due to meet Xi on the sidelines of a G20 summit in Buenos Aires this week, said that if negotiations were unsuccessful, he would also put tariffs on the rest of Chinese imports.
“If we don’t make a deal, then I’m going to put the $267 billion additional on,” at a tariff rate of either 10 per cent or 25 per cent, Trump told the Journal.
A Chinese official told reporters last week that the two leaders would look to set guidelines for future talks.
“The main issue is how to settle down the trade war,” the official said on condition of anonymity due to the sensitive nature of preparatory negotiations. “I am conservatively optimistic that can be done,” he added.
At a regular news briefing in Beijing Chinese foreign ministry spokesman Geng Shuang reiterated China’s hope that both sides could work towards a “positive outcome” from the meeting between the two leaders, citing a “consensus” they reached during a November 1 telephone call. — Reuters