Trump says he expects ‘great deal’ with China, but more tariffs if not


October 30, 2018

SHANGHAI (Reuters) – U.S. President Donald Trump said he thinks there will be “a great deal” with China on trade, but warned that he has billions of dollars worth of new tariffs ready to go if a deal isn’t possible.

“I think that we will make a great deal with China and it has to be great, because they’ve drained our country,” Trump told FOX News Channel’s “The Ingraham Angle” on Monday.

Trump said in the interview he would like to make a deal now, but that China was not ready. He did not elaborate.

Bloomberg news reported on Monday that Washington was preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between Trump and his counterpart Xi Jinping fail to ease the trade war.

Both Trump and Xi are expected to attend next month’s G20 summit in Buenos Aires, where they could meet.

Chinese Foreign Ministry spokesman Lu Kang said China and the United States have all along been in communication about exchanges at all levels, including a possible Xi-Trump meeting in Argentina, though he gave no details.

If the United States is not willing to promote win-win cooperation with China then China is fully confident in being able to continue with its reforms and develop itself, Lu added.

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of U.S. goods.

“And I have $267 billion waiting to go if we can’t make a deal,” Trump said.

Trump has long threatened to impose tariffs on all remaining Chinese imports into the United States if Beijing fails to meet U.S. demands for sweeping changes to Chinese trade, technology transfer and industrial subsidy policies.

Reporting by John Ruwitch; Additional reporting by Ben Blanchard in Beijing; Editing by Kim Coghill

Source: Reuters “Trump says he expects ‘great deal’ with China, but more tariffs if not”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.


19 Comments on “Trump says he expects ‘great deal’ with China, but more tariffs if not”

  1. Simon says:

    The RMB has fallen against the dollar to 2009 level, this means China is prepared to go further with the trade war against America because it can maintain the cost off setting the 25% tarrifs. Also the rest of the world can afford to buy more Chinese goods. China is winning.

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    • Mango says:

      China is having a fire sale to offset this tariff. How low is China prepared to go? And how low will the Chinese people accept in the falling of their standard of living?

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      • Steve says:

        Nonsense what fire sale instead this could lead to a fire storm, if China chooses to weaponise the Yuan. China’s devaluation of the Yuan maybe just the beginning of a currency war that could lead to increasing trade tensions. Rather the opposite, the 25% tariffs will affect American consumers standard of living. Tesla and other US companies are moving offshore. Unlike US, China is still a manufacturing nation. A weaker Yuan will cost China’s imports more, but Chinese companies can easily increase production of substitute goods to aid domestic industry. Can US do the same.? The devaluation of the Yuan is just part of the market oriented reform to stimulate market economy. Devaluation of currencies has its limits, a longer term will affect nations worldwide.

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  2. Tyler Reber says:

    Meanwhile, master card and Visa report surges in profits from Americans using credit cards to buy everything from gas and food and everything else.

    A market crash in 2018 – 2019 is beginning to sound like a long recovery process. Generation Z will begin graduating college soon with loads of student debt into a rubbish job market and terrible recession with record defaults from record sized debts. What a way to begin life.

    Even without the trade war the future is bleak. In such conditions, will Trump still pursue his dream deal through threats and extortion, or will he break and beg for win win cooperation, or just prefer real war when he realizes he will never get his way?

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    • Mango says:

      Employment levels in the US are the highest they have been in decades and you want to say that the future for America is bleak? Do you even pay attention to the news

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      • Allen Lau says:

        Wage growth is anemic. It’ll take young people decades to pay off their $100000 student loan.

        Wisdom of man, foolishness. Wisdom of Trump, moronic.

        America is losing competitiveness in the market place. Protectionism is making American goods less competitive. How can you win by moving production from the recognized low cost high quality producer? When steel tariff was introduced, US steel workers immediately went on strike to demand more pay. Is increasing cost the way to increase competitiveness?

        Moving from second floor to first floor, lose a bushel of wheat.

        It is completely nonsense to incur huge cost to move from the established best supply chain. Where will the infrastructure and investment come from? How will adding capacity to over supply affect profitability of these investments.

        Trump is financing his gambit with trillions of debt. He will lose his shirt when China calls him bluff.

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      • Tyler Reber says:

        So a low unemployment rate is all im supposed to consider and that’s supposed to mean high credit card debt and high student loan debt doesn’t paint a bleaker picture of the future, especially after equities crash?

        Even with such an exceptional employment rate, the government still has a $800 billion dollar spending deficit. Pays over $500 billion in interest this year alone, while the fed talks about raising interest rates.

        Retirees are ritering with less And Exorbant health care costs are bankrupting many others.

        US actively engaged in military wars, threats of military war with several countries. Talks of putting its resources into a space force and more nukes.

        But you, Mango, seem to think that a strong employment rate makes unsustainable practices sustainable and seem not bleak.

        What news do you read, Mr. Informative?

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      • KwaaiLaan says:

        Unfortunately most of these are employed on a part time basis. It’s a ‘hidden unemployment’. The picture is not that rosy. Please read
        https://www.google.com/amp/s/amp.cnn.com/money/2016/04/25/news/economy/part-time-jobs/index.html

        “America has a huge part-time workforce problem.

        And it’s Worry Number One for Federal Reserve Chair Janet Yellen. She has talked about part-timers at each of her last three press conferences, at nearly every speech in the last six months and at both of her past two testimonies to Congress.

        Yellen’s worries stem from the fact that the part-time U.S. workforce is at “very high levels.

        Experts call these jobs “hidden unemployment” because these people are capable of working more hours than they can get.

        It’s a tough situation. About 25% of part-time workers lives in poverty, according to a study by Rebecca Glauber, a professor at the University of New Hampshire. Only 5% of full-timers live in poverty.

        Many part-timers are paid less per hour than full-time workers with the same responsibility and job. They’re more likely to lose their jobs than full-time workers and they often have no health benefits or paid time off, according to Chris Tilly, a UCLA economics professor.”

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  3. peter valbonne says:

    President Xi is a very determined person and nothing will stop him from achieving Made in China 2025 except full scale war with USA.

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    • Doctor Darrassus says:

      The real reason of the pullout of the INF Treaty is to contain China and the US is accusing Russia of violation of the treaty as just a pretext.

      So, while many news outlets have thus far focused on the Russian dimension of America’s withdrawal from the INF Treaty, and the potential challenges for Europe, don’t be fooled—the real game to watch is being played in Asia. Against China. Xi is being played like a child.

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      • kommonsense says:

        u didn’t learn from nor respond to my previous posts against you. u continue your intelligence-free drivel here . i was correct in calling you dr. dumbass.

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      • KwaaiLaan says:

        Being played like a child? Containment doesn’t work.
        This is from a US news report.
        https://www.google.com/amp/s/www.washingtonexaminer.com/opinion/when-it-comes-to-china-the-us-should-pick-engagement-over-containment%3f_amp=true

        “For one thing, while containment may have worked with the Soviet Union, China is quite a different beast. China has pursued a policy of reform and opening up, and far from adhering to its communist origins that still have a place in official iconography, China has become the biggest market in the world for consumer goods. With online shopping festivals prompting spending many times more than that spent on black Friday, new shopping malls popping up every day, and a growing middle class with a high demand for all kinds of goods, China’s model is a far cry from Moscow’s. Moreover, even though it can be argued that the strategy of containment did eventually work, it came at the price of potential catastrophic nuclear conflict — a risk that should be avoided.

        China is also pursuing forward-looking policies on the development of new technology such as artificial intelligence, robotics, biotech, and other fields where it hopes to outpace the United States. In some areas, such as access to large data sets necessary for AI innovation, China already has a clear advantage. This means that China is positioning itself to not only keep up with foreign development but take the lead. For consumer products, this would shift the balance of trade. For military capabilities, it would shift the balance of power.

        Finally, China is already well into laying the groundwork for not just its own success but for a global network dominated by Chinese interests. That includes not only strategic trading lanes and infrastructure but also the potential to gain control over locations with key military importance.

        In short, China would be a formidable foe. And one the U.S., with its increasingly isolationist outlook and current economic emphasis on outdated industry, will be ill prepared to face.”

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  4. Steve says:

    According to patents experts, China’s rising investment in research and expansion of its higher education system means that it is fast closing the gap with the US on intellectual property and the struggle to be the world’s number 1 global power. As much as Trump wants to put America 1st with it’s self isolationist or protectionism policies, the real goal is to create obstacles in China’s economy and slow down the Made in China 2025.

    Since, China is fully confident in it’s reform and self reliant of the Chinese economy, then China should not waver in its dispute with the US, especially when Trump is threatening with tariffs.

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    • Simon says:

      A country, China, who supplies the world with goods they make get to determine how much their goods are worth, which means China can decide how much the world’s currency is worth against their own. America on the other hand steals from the world by printing worthless greenbacks and tries to force the world to accept it for international transaction and got rich taxing it. When Trump tries to hit Chinese imports with tarrifs he should have been aware America does not determine the price of goods comming in, they simply gets adjusted by China.

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      • kommonsense says:

        america has been outed as the world’s land thief (continental u.s and hawaii, to start with),labor thief (underpaid chinese railroad workers that enabled america to rise overnight,and black slavery) murderer (they’ve been regularly assassinating leaders that oppose america’s evil ways–castro was the exceptional one that they could never get),and world’s terrorist (cia/pentagon and their moussad cohorts).

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        • kommonsense says:

          when one thinks about it, ALL of the world’s major problems are caused by america and israel, as israel controls america.

          it makes absolutely ZERO sense that such a small and inconsequential cuntry would wield so much power over the most powerful (albeit thru cheating) one.

          it really makes one wonder about the conspiracy theories about the illuminati, the rothschilds.bilidebergers, vanderbilts and other ultra rich jewish european families that control the u.s.

          indirectly, israel destroyed the american car industry because it caused the 1973 arab oil embargo that eventually led to our streets being uglified with death trap half-cars that get 1 million mpg. anyone notice how the jewish owned media tried to point the blame away from israel by coining the term “arab” oil embargo, when it was israel that was truly to blame?

          the more one thinks about it, the more sense hitler made in his view on the jews.

          why do we only hear about the holocost and nothing else? were the jews the only ones ever killed in a war? this proves how the media is jewish owned.

          it has been proved that the 6 or 7 million jews that were claim to be killed in the holocost was a physical impossibility, given the time frame.

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          • Steve says:

            Just like US illegally infiltrated Syria militarily on the pretext of subduing terrorism, when in fact, they are the sponsors of terrorism.

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      • Steve says:

        True – China is still a strong manufacturing base and can easily substitute goods to aid domestic consumption.

        Like