Trump Intends to Settle Trade Row with China
TEHRAN (Tasnim) - US President Donald Trump said he believed that the United States would be able to settle the existing trade disputes with Beijing, since he had very good relations with Chinese President Xi Jinping.
“We have to work on our trade with China because it has been very tough on our country, for very many years our presidents did nothing about it. We probably lost last year $500 billion in trade to China. Think of it – 500 billion. So we have started the process and I think that will work out with China because we have very good relationship with President Xi. He is incredible,” Trump said, addressing the Nevada Republican Party Convention in Las Vegas on Saturday.
The tariff war between the United States and China erupted in March, after Trump, who has repeatedly pledged to fix the US trade deficit with China, announced that his administration would impose tariffs on imported steel and aluminum, Sputnik reported.
On June 15, Trump said that the United States would impose 25-percent tariffs on $50 billion worth of technology goods from China, effective from July 6, prompting Beijing to swiftly levy symmetrical tariffs on 659 items of US goods worth a total of about $50 billion.
Trump continued the trade spat on Monday, by instructing US Trade Representative Robert Lighthizer to identify $200 billion worth of Chinese goods to prepare additional tariffs at a rate of 10 percent. Beijing again pledged to take tough response measures if Washington imposed new tariffs on its goods.
