China trade war: Trump threatens additional tariffs if deal can not be made

Darnell Taylor
June 27, 2019

Apart from Trump, Prime Minister Modi will also meet Chinese President Xi Jinping, Russian President Vladimir Putin and other leaders during the G20 Summit.

The bilateral meeting, aimed at heading off a ratcheting up of USA tariffs on imports of consumer and other goods from China, is likely to be the most closely watched event at the G20 summit, hosted by Japan.

Trump said if Washington was unable to reach a trade deal with Beijing, his plan was to reduce business with China.

The talks between the leaders of the world's two largest economies mark a critical juncture in their trade war, which has gone on for more than a year, and both sides have plenty to lose if it escalates. "Companies are moving out of China, by the way, some are coming back to the United States because they don't want to pay the tariff", he told Fox Business News.

No detailed trade deal is expected from the leaders' summit, a senior USA administration official said Tuesday.

"I would do additional tariffs, very substantial additional tariffs, if that doesn't work, if we don't make a deal", Trump said.

Trump, during the interview with Fox Business, said he told his trade officials to immediately cease talks after learning that the Chinese regime had reneged on commitments.

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Negotiators have not met since trade talks broke down, and USA and Chinese sources informed on the state of talks have told Reuters the best-case scenario for the Xi-Trump meeting is to resume negotiations.

Trump on Wednesday said he could consider placing a 10% duty on another $300 billion or so of Chinese goods rather than 25%.

On Wednesday, the president strongly indicated he was ready to slap tariffs on all remaining Chinese imports - more than $300 billion worth.

Trump did say that a previous threat to tax this remaining segment at 25 percent could be changed to a less harsh 10 percent. Trump said he then chose to let the tariff rate rise.

"Almost all countries in this world take tremendous advantage of the United States".

Trump criticized a range of trading partners in the interview, including Germany and Vietnam, which he called an "abuser" when responding to a question about companies relocating production from China to that country following USA -imposed tariffs.

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