NEW DELHI: The United States President Donald J Trump Tuesday, in a fresh series of tweets, tried to pressurise China to make a trade deal with the country soon or it might get tougher once he is re-elected in 2020 to the top office.
“We are doing very well in our negotiations with China. While I am sure they would love to be dealing with a new administration so they could continue their practice of “ripoff USA”($600 B/year),16 months PLUS is a long time to be hemorrhaging jobs and companies on a long-shot…And then, think what happens to China when I win. Deal would get MUCH TOUGHER! In the meantime, China’s Supply Chain will crumble and businesses, jobs and money will be gone!,” Trump tweeted.
Last week, the US imposed 15% tariffs on a range of Chinese goods, while China too levied new charges on many American products.
Following the Chinese telecom gear maker Huawei’s controversy, the trade war between the two countries started last year that has now worried investors worldwide with global stock markets on decline.
The finished goods sought by the US companies from China would cost more, and they might either absorb new costs or bill additionally to the consumers.
In August 2018, Washington said that it would extend tariffs on an additional $300 billion worth of Chinese goods.