PORT MORESBY: The United States will not back down from its trade dispute with China, and might even double its tariffs, unless Beijing bows to US demands, Vice President Mike Pence said on Saturday. In a bluntly worded speech at an Asia Pacific Economic Cooperation (Apec) summit in Papua New Guinea, Pence threw down the gauntlet to China on trade and security in the region. “We have taken decisive action to address our imbalance with China,” Pence declared. “We put tariffs on $250 billion in Chinese goods, and we could more than double that number.”
“The United States, though, will not change course until China changes its ways.”
The stark warning will likely be unwelcome news to financial markets which had hoped for a thaw in the Sino-US dispute and perhaps even some sort of deal at a G20 meeting later this month in Argentina.
US President Donald Trump, who is not attending the Apec meeting, is due to meet Chinese President Xi Jinping in Argentina.
Pence’s warning on Saturday contrasted with remarks made by Trump on Friday, when he said he may not impose more tariffs after China sent the United States a list of measures it was willing to take to resolve trade tensions.
Trump has imposed tariffs on $250 billion worth of Chinese imports to force concessions on a list of demands that would change the terms of trade between the two countries. China has responded with import tariffs on US goods. — Reuters
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