Trump says he is fixing the trade relations between US, China

Why Trump Thinks 'Tariffs Are a Beautiful Thing'

"Look, we had a deal with China and then they went back on the deal", Trump said Tuesday.

China, badly hurt by increased American import tariffs, is desperate to have a trade deal with the US, President Donald Trump has asserted, as the trade war between the two economic giants appeared set to escalate in the coming weeks.

Trump said he would meet with Chinese President Xi Jinping on the sidelines of the G20 Summit in Osaka, Japan, later this month where they are expected to discuss the bilateral trade dispute.

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. Asked about the deadline for imposing tariffs on an additional 325-billion dollars worth of Chinese goods, he said there is none. Beijing responded by raising tariffs on $60 billion of United States exports and escalating its anti-American propaganda.

Wall Street ended its six-day winning streak as investors made a decision to take a breather - with no fresh catalyst to spur the market, but plenty of risks from the US-China trade war still ahead.


Almost a year after Trump began imposing the higher tariffs to ramp up pressure on Beijing, hopes are focused on a possible top-level compromise to break a stalemate in talks that were suspended last month. They are a serious challenge to us, and in some areas a real threat. China wants good results from the meeting. "But if it insists on escalating trade frictions, we will respond to it with resolution and perseverance".

For More on U.S. The president also said China wants to come to a trade agreement with the U.S.

In addition to concerns about China's intellectual property laws, Trump has focused complaints about China on the country's trade surplus with the US and subsidies Beijing gives private companies.

Last month, the US accused China of reneging on provisions of a tentative trade deal, bringing talks to a halt. 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. Since President Trump first implemented the tariffs, the communist regime has been battered by economic uncertainty and faltering growth while the USA has enjoyed a level of prosperity not seen for a generation. Putin, who has encountered his own difficulties trying to stabilize the struggling Russian economy, boasted in turn that relations between the two countries had "reached an unprecedented level". We want to get along with China, but we had no choice.

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