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Trump signals China tariff hike ahead of meeting with Xi Jinping

Trump said it was "highly unlikely" he would accept China's request to hold off on the increase, which is due to take effect on January 1

Reuters  |  Washington/Beijing 

Trump
“The only deal would be China has to open up their country to competition from the United States,” Trump told the Journal

US President said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 per cent from the current 10 per cent and repeated his threat to slap tariffs on all remaining imports from China.

In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President in Argentina, said it was “highly unlikely” he would accept China’s request to hold off on the increase, which is due to take effect on January 1.

“The only deal would be China has to open up their country to competition from the United States,” told the Journal.

“As far as other countries are concerned, that’s up to them.” Trump, who is due to meet Xi on the sidelines of a G20 summit in Buenos Aires this week, said that if negotiations were unsuccessful, he would also put tariffs on the rest of Chinese imports. “If we don’t make a deal, then I’m going to put the $267 billion additional on,” at a tariff rate of either 10 per cent or 25 per cent, he said.

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But in Beijing, Chinese foreign ministry spokesman Geng Shuang said China’s hope that both sides could work towards a “positive outcome” from the meeting.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, November 27 2018. 16:36 IST
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