Trump says he ‘feels no pressure’ to reach trade deal with China
U.S. President Donald Trump said he “feels no pressure” to resolve the trade war with China as his administration prepares to hold new talks on the trade dispute.
U.S. stocks gave up gains after Trump posted the above comments on Twitter on Thursday.
His speech cooled the market’s cautious optimism. News disclosed on Wednesday that the U.S. government proposed a new round of trade negotiations with China spurred gains in U.S. stocks and emerging market assets.
Trump appeared to take issue with a paragraph in the Wall Street Journal’s coverage of the negotiations. Reports say he faces growing political pressure ahead of the November midterm elections to resolve the trade war and end China’s retaliatory actions against U.S. exporters.
“The Wall Street Journal is wrong, we are not under pressure to make a deal with China, they are under pressure to make a deal with us,” Trump said on Twitter on Thursday. “Our markets are booming. up, their markets are collapsing. We will soon be receiving billions of dollars in tariffs and producing products domestically. If we meet, how about we meet?”
American invitation
Chinese Ministry of Commerce spokesman Gao Feng said at a regular press conference in Beijing on Thursday that China had received an invitation and was studying the details with the U.S. Department of Commerce. Three people familiar with the matter, who requested anonymity, said senior U.S. officials, led by Treasury Secretary Steven Mnuchin, recently extended invitations to Chinese officials.
The White House is trying to pressure Beijing to reduce its trade surplus with the United States and protect the intellectual property of American companies that it says are mistreated in China. Since July, the Trump administration has imposed additional tariffs on $50 billion in Chinese exports, prompting Beijing to retaliate immediately.
Trump’s National Economic Council Director Kudlow confirmed the invitation on Wednesday. “That’s a good thing. We’re communicating now, you could say the communication has escalated.”
USD 200 billion
Gao Feng told reporters in Beijing that if the United States implements additional tariffs on $200 billion or more of Chinese goods, it will harm the interests of China, the United States and the world. Gao Feng said China calls on the United States to abide by WTO rules and correct its abuse of trade remedies.
Yao Shaohua, an economist at ABC International in Hong Kong, said that the two sides still have great differences, but China will accept the invitation and may send Vice Premier Liu He to lead the negotiations. Liu He led Chinese officials in the last round of negotiations in May and reached an agreement with Mnuchin, but the agreement was later overturned by a tweet from Trump.
Yao Shaohua said that China may be worried that Trump will repeat what he did in May again, but ultimately hopes for a breakthrough.
Trump has not yet pulled the trigger on imposing further tariffs on $200 billion of Chinese goods.
“Tariff increase”
The public comment period for this round of tariff measures ended last week, but the United States has yet to take action. Trump said last week: “There is another $267 billion worth of tariffs that could be ready in a short time if I wanted to.” That would cover almost all Chinese exports to the United States, including clothing and Apple smartphones. and other consumer goods.
China has said it will be forced to counterattack all U.S. measures, exacerbating concerns that a trade war could weaken the global economic outlook.
Efforts to end the trade war have so far failed. Officials from the two countries have held four formal talks, the most recent in Washington in August, with representatives from both sides being Malpass, the U.S. Under Secretary of the Treasury for International Affairs, and Wang Shouwen, the Chinese Vice Minister of Commerce. (Title: Trump says he “feels no pressure” to reach trade deal with China)
AAA Fabric Network E4T45UY75T
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights, please contact us and we will change or delete it as soon as possible.
AA
