Love The Position We're In: Trump On China Amid Trade Dispute

15 May, 2019, 11:35 | Author: Wade Massey

As well as looking to narrow the trade deficit between the two countries, President Donald Trump has repeatedly accused China of stealing trade secrets and forcing foreign companies to hand over technology as a price of entry to the Chinese market.

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

The Dow Jones Industrial Average and major indexes were up Tuesday after a heavy sell-off Monday, as jitters over the escalating trade war intensified. "I think it's going to turn out extremely well".

"Make your product at home in the United States of America and there is no tariff", Trump countered on Tuesday.

The retaliation measure came three days after the United States moved to increase tariffs on US$200 billion worth of Chinese goods from 10% to 25% as of May 10. China retaliated on Monday, saying it would apply tariff hikes of its own to $60 billion in American goods.

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"We do anticipate, as the secretary indicated yesterday, that we will plan for a meeting in China at some point soon", he said. "It will always continue", the US President said, describing the negotiations as "very good" while touting his "extraordinary" relationship with Xi. This should have been done by our leaders many years ago.

Mr. Trump plans to meet with Mr. Xi during the G-20 Summit in Japan in late June. The list includes a wide range of consumer goods, from cellphones and computers to clothing and footwear, but it excludes pharmaceuticals, some specialty compounds and rare-earth minerals. China's Foreign Ministry said on Tuesday it hoped the United States did not "underestimate China's determination and will to safeguard its interests".

He's emboldened by an incredibly resilient United States economy he claims as valediction. The president's weird insistence that "China" pays the tariffs reflects not just his reluctance to take responsibility for tax increases but his longstanding, sincere, and fundamentally mistaken views on global trade-views that do not bode well for the outcome of his trade war.

More than 10 rounds of negotiations have been held between the two sides, ever since the two leaders agreed to put a hold on the trade dispute on the sidelines of past year " s G20 summit in Argentina.

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