Trump says tariffs making companies leave China, a deal can't be '50-50'




U.S. President Trump speaks at the National Association of Realtors
U.S. President Trump speaks at the National Association of Realtors' Legislative Meetings & Trade Expo in Washington  

By David Lawder and Nandita Bose

WASHINGTON (Reuters) - U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a "50-50" deal.

In an interview with Fox News Channel recorded last week and aired on Sunday night, Trump said that the United States and China "had a very strong deal, we had a good deal, and they changed it. And I said that's OK, we're going to tariff their products."

No further trade talks between top Chinese and U.S. trade negotiators have been scheduled since the last round ended on May 10 - the same day Trump raised the tariff rate on $200 billion worth of Chinese products from 10 percent.

Trump took the step after China soured the negotiations by seeking major changes to a deal that U.S. officials said had been largely agreed.

Since then, China has struck a sterner tone in its rhetoric, suggesting that a resumption of talks aimed at ending the 10-month trade war between the world's two largest economies was unlikely to happen soon.

Trump, who said the interview with Fox News host Steve Hilton had taken place two days after he raised the tariffs, said he would be happy to simply keep tariffs on Chinese products, because the United States would be taking in $100 billion or more in tariffs.

But he added that he believed that China would eventually make a deal with the United States "because they're getting killed with the tariffs, China' getting totally killed."

But he said that he had told Chinese President Xi Jinping before the most recent rounds of talks that any deal could not be "50-50" between the two countries and had to be more in favor of the United States because of past trade practices by China.

Trump also said that Democratic presidential candidate and former U.S. vice president Joe Biden should be investigated over a conservative author's allegation that Biden's son Hunter Biden took advantage of his father's position to sign a lucrative business deal with state-controlled Bank of China. The allegation was made in Peter Schweizer's 2018 book "Secret Empires."

Asked if this should be investigated, Trump said: "100 percent. It's a disgrace and then (Joe Biden) says China's not a competitor of ours. China is a massive competitor of ours. They want to take over the world."


(Reporting by David Lawder; Editing by Sandra Maler and Richard Borsuk)

COMMENTS

More Related News

Trump vows to revive
Trump vows to revive 'Pocahontas' attack against Warren

Warren has largely rebounded from the controversy of her heritage claims, but Trump vows to pounce anew.

China Signals U.S. Tariff Delay Not Enough to Stop Retaliation
China Signals U.S. Tariff Delay Not Enough to Stop Retaliation
  • World
  • 2019-08-15 14:00:19Z

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China called planned U.S. tariffs on an additional $300 billion in Chinese goods a violation of accords reached by Presidents Donald Trump and Xi Jinping, signaling an American move earlier this week to delay some of those levies was not enough to stave off retaliation.The new 10% tariffs have taken the U.S. and China off the track of resolving their dispute through negotiation, the State Council Tariff Committee, which has overseen tit-for-tat retaliation, said in a short statement on Thursday. China "has no choice but to take necessary measures to retaliate," it said,...

Israel bars U.S. Democratic lawmakers Ilhan Omar and Rashida Tlaib under pressure from Trump
Israel bars U.S. Democratic lawmakers Ilhan Omar and Rashida Tlaib under pressure from Trump

JERUSALEM/WASHINGTON (Reuters) - Prime Minister Benjamin Netanyahu on Thursday barred U.S. Democratic congresswomen Rashida Tlaib and Ilhan Omar from making a planned trip to Israel, shortly after U.S. President Donald Trump called on his ally not to let them in. Tlaib and Omar, the first two Muslim women elected to Congress, are members of their party's progressive wing and sharp critics both of Trump and of Israel's policy toward the Palestinians.

Trump suggests trade deal can wait for Hong Kong resolution
Trump suggests trade deal can wait for Hong Kong resolution

President Donald Trump suggested Wednesday that trade talks with China can wait until tensions in Hong Kong have eased, tweeting: "Of course China wants to make a deal. Trump also praised Chinese President Xi Jinping, calling him a "great leader" and saying he could quickly resolve the

Pelosi vows to thwart US-UK trade deal if Brexit risks Irish peace
Pelosi vows to thwart US-UK trade deal if Brexit risks Irish peace
  • World
  • 2019-08-14 20:29:54Z

An American trade pact with Britain is doomed if the latter's withdrawal from the EU undermines the Northern Ireland peace accord, US House Speaker Nancy Pelosi warned Wednesday. "Whatever form it takes, Brexit cannot be allowed to imperil the Good Friday Agreement, including the seamless border between the Irish Republic and Northern Ireland," Pelosi, the top Democrat in Congress, said in a statement.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.