Trump threatens higher tariffs if no trade deal with China

19 Novembre, 2019, 23:18 | Auteur: Auguste Feret
  • Trump hosts a Cabinet meeting inside the Cabinet Room of the White House Nov 19 2019

The China delegation has demanded that tariffs imposed after May be removed immediately while tariffs imposed before then should be lifted in stages, according to one person. China troubled after Trump said no tariff rollback. "We'll see what happens".

White House economic adviser Larry Kudlow said last week that the two countries were getting close to an agreement to end the 16-month-long trade war, but he gave no further details on the timing of a possible deal.

Chinese technology companies such as Huawei are expected to continue being subject to hard trade restrictions by the United States administration, regardless of any trade deal with China in the future. Several days earlier, a Chinese official said agreement had been reached on mutual cancellation of some tariffs, but Trump said he hadn't agreed to anything.

"If we don't make a deal with China, I'll just raise the tariffs even higher", he told a room filled with senior USA officials.

"They'd like to have a rollback".

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The Chinese Ministry of Commerce said Sunday the two sides had "constructive discussions" about "each other's core concerns" and agreed to remain in close contact.

Hopes were high that a partial trade deal could be signed at a summit in Santiago, Chile that was scheduled for mid-November. "China would like to get somewhat of a rollback, not a complete rollback because they know I won't do it".

About $500 billion in Chinese good have been slapped with tariffs and China, in turn, has put tariffs on $110 billion of USA products.

A new set of US tariffs are scheduled to go into effect December 15 that could affect cellphones, laptops and toys right before Christmas.

As per UBS, China is predicted to grow at more than 5.5 per cent in the coming year, if the United States does not add to the tariffs on Chinese goods.



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