Donald Trump: U.S. in a 'little squabble' with China

Lester Mason
May 15, 2019

Earlier on Tuesday Trump called the trade war with China "a little squabble" and insisted talks between the world's two largest economies had not collapsed.

Larry Kudlow, Donald Trump's chief economic adviser, understands that tariffs on Chinese imports are a tax paid by American companies and consumers-a point his boss refuses to acknowledge.

"My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn't make any sense".

Despite the mounting economic threat and escalating tensions, Trump was optimistic about reaching a deal with China.

"We can make a deal with China tomorrow, before their companies start leaving so as not to lose U.S. business, but the last time we were close they wanted to renegotiate the deal", he said.

Over the weekend, White House economic adviser Larry Kudlow contradicted Trump, suggesting it's the us that will pay for tariffs on goods coming into the USA, as opposed to China.

"The measure taken by the U.S. escalated trade frictions and violated the consensus reached by both sides to tackle trade disputes through consultations", the authorities said in a statement issued by the Customs Tariff Commission of the State Council. "If someone attacks us on our doorstep, we will take them on and fight to the finish", China's foreign ministry spokesman Geng Shuang said.

The latest escalation in the long-running feud began on Friday, when the White House increased tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent. "You had a great deal, nearly completed, & you backed out!" he tweeted on Monday. "It will always continue", the US President said, describing the negotiations as "very good" while touting his "extraordinary" relationship with Xi. He did not provide details on the plan, which follows US$12 billion in similar farm aid a year ago.

Beijing, meanwhile, has suggested that tariffs will hurt American consumers and companies that manufacture in China.

United States agricultural products have been targeted by China's retaliatory tariffs, and American farmers, a key political constituency for Trump, are increasingly frustrated with the failure of the two sides to find a solution to the dispute.

Other reports by Iphone Fresh

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