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| Source: AP Photo. |
Trump said that China "may as well wait" for the 2020 US elections and hope for a Democrat to win.
….The only problem is that they know I am going to win (best economy & employment numbers in U.S. history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!
On Friday, the Trump administration increased the level of tariffs from 10 to 25 per cent on some $200 billion in Chinese imports. Later that day, Trump ordered tariffs to be raised on all remaining US imports from China, which are valued at around $300 billion.
The latest round of US-Chinese trade talks finished in the United States on Friday. The sides have not reached any deal but agreed to meet for further negotiations in Beijing. Chinese Vice Premier Liu He — who led the Chinese delegation to Washington for bilateral talks — in an interview with Chinese CCTV broadcaster said that Beijing will be forced to retaliate but hopes Washington would exercise restraint.
Trump said in an earlier Twitter post that the possibility of removing tariffs depended on the outcome of future negotiations between the United States and China. Trump added that the latest tariffs, which went into effect at 12:01 a.m. on Friday, would produce "massive payments" that would go directly to the US Treasury Department.
Washington and Beijing have been trying to overcome disagreements that emerged in the wake of Trump’s decision last June to impose 25 per cent tariffs on $50 billion worth of Chinese goods in a bid to fix the US-Chinese trade deficit. Since then, the sides have exchanged several rounds of trade duties.
