Udayavni Special

Trump says China deal will work out because of raised tariffs on imports


PTI, Jun 11, 2019, 9:31 AM IST

Washington: US President Donald Trump said China will be left with no other option but to enter into a trade deal with the United States because his increased tariffs on Chinese products is having an impact on its economy.

“The China deal is going to work out. You know why, because of tariffs, because right now China is getting absolutely decimated by companies that are leaving China going to other countries, including our own, because they don’t want to pay the tariffs,” Trump told CBS news in an interview.

In recent months, Trump has imposed additional tariffs on Chinese products worth USD 200 billion and he has ordered for another round of tariffs on rest of the Chinese imports amounting to USD 300 billion.

“And China will, in my opinion, based on a lot of facts and a lot of knowledge, China is going to make a deal because they’re going to have to make a deal,” he said.

“China will subsidise their product because they want to keep people working. So China is going to pay a lot. We have put 25 percent on USD 250 billion of Chinese goods coming into our country, including USD 50 billion of high-technology equipment and things,” he said.

“You haven’t seen any or virtually any price increase because what China does basically their companies–they subsidize their companies because they want to keep people working. They want to stay competitive. We have another USD 300 billion to go with China,” he said.

“I haven’t done that because it’s a very big thing for them, not for us. For us it’s not going to matter because we’ll be able to buy the product in other countries that don’t have the tariffs. So it’s not going to have an effect,” said the US president.

Later in the day, Trump told reporters that he will meet Chinese President Xi Jinping in Japan later this month on the sidelines of the G-20 Summit. Some reports say that Xi might skip the G-20 summit.

“I think President Xi of China — great relationship with him — I think he’ll be there. We are scheduled to talk and to meet. I think interesting things will happen. Let’s see what happens,” he said in response to a question.

“Right now, we’re getting 25 percent on USD 250 billion worth of goods. That’s a lot of money that’s pouring into our Treasury. We’ve never gotten 10 cents from China. Now we’re getting a lot of money from China. I think that’s one of the reasons that GDP was so high in the first quarter, because of the tariffs that we’ve taken in from China”, he said.

He asserted that the US had the option of raising the tariffs to imports worth USD 300 billion, which would yield far greater benefits to the US Treasury.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

UK scientists develop gadget that sniffs out COVID-19

Watch Video: Car sinks into water as parking slot in Mumbai’s Ghatkopar area caves in

Udupi: District administration allows book stores, Mobile phone shops to open for a day on Wednesday

Sudhakar lauds HSIS Gosha Govt Hospital for completing 300 deliveries of COVID-19 +ve pregnant women

New virus genetically closer to SARS-CoV-2 found in bats in China

Cong needs widespread reforms to show it’s no longer in inertia: Kapil Sibal

Days after ruling out leadership change, BJP incharge Arun Singh to visit Karnataka



Related Articles More

UK scientists develop gadget that sniffs out COVID-19

At an arms control crossroads, Biden and Putin face choices

New virus genetically closer to SARS-CoV-2 found in bats in China

Swiss vote on whether to hike taxes to fight climate change

COVID-19: Schools, colleges to remain closed till June 30 in Bangladesh

MUST WATCH

Mumbai MLA Makes Contractor Sit on Garbage

Ashwini sings a kannada song

Nalin Kumar Kateel gave fruits to Monkey at Charmadi Ghat

Strict follow the unlock Guidelines at Udupi | Udupi DC G Jagadeesh Malalagadde

Covid Protocols broken for marriage in Vijayapura

Latest Additions

No clarity on COVID-19 vaccine procurement, say private hospitals; seek proper guidelines

New Zealand will have advantage in WTC final but India up for challenge: Pujara

UK scientists develop gadget that sniffs out COVID-19

Mother of Kerala woman in Afghan jail hopes Modi govt will pardon her daughter

At an arms control crossroads, Biden and Putin face choices

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.