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© Reuters. Shipping containers are seen in a Shanghai port
WASHINGTON / BEIJING (Reuters) – US President Donald Trump announced on Monday that he plans to raise tariffs on Chinese imports to $ 200 billion, from 10 percent to 25 percent, and reiterated his threat of lower tariffs on all remaining imports from China.
In an interview with the Wall Street Journal four days before his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was "very unlikely" that he would accept China's request for delay the increase, which should take effect on January 1st.
"The only deal would be for China to open up its country to US competition," Trump told the Journal. "As for other countries, it belongs to them."
Trump, who is scheduled to meet Xi on the sidelines of a G20 summit in Buenos Aires this week, said that if negotiations fail, he will also impose tariffs on the rest of China's imports.
"If we do not agree, then I will add another $ 267 billion," at a 10% or 25% duty rate, Trump told the Journal.
A Chinese official told reporters last week that the two leaders would seek to establish guidelines for future talks.
"The main problem is how to end the trade war," said the official on condition of anonymity because of the sensitivity of the preparatory negotiations. "I am optimistic and conservative, which can be done," he added.
At a regular press conference in Beijing on Tuesday, Chinese Foreign Ministry spokesman Geng Shuang reiterated China's hope that both sides could work for a "positive outcome" of the meeting between the two leaders, citing a "consensus" reached on 1 November. phone call.
Double-edged sword
Last week, Washington proposed boosting technology export controls in 14 cutting-edge high-tech fields, including artificial intelligence and microprocessor technology, a decision that many badysts see as going directly to China.
"If the US does not buy Chinese products and US technology does not show up, would that really benefit US companies?" said Xu Nanping, China's Vice Minister of Science and Technology.
"We can buy from Japan and South Korea or develop ours, what would the United States do?" Xu told a small group of journalists in Beijing on Tuesday that China represents at least half of the market for many US-listed companies.
Technological controls would also be a double-edged sword. So, in the long run, it would not be a win-win situation, but a losing-losing situation, said Xu.
"In the manufacturing chain, China occupies the low and middle segments, while the United States is between the middle and the top.After the chain is broken, the United States would also be affected."
TECHNICAL PRODUCTS
Trump said the next set of tariffs could also be applied to laptops and iPhones imported from China (NASDAQ 🙂 Inc., which are part of this $ 267 billion list of goods not yet affected by tariffs.
Mobile phones and computers, which are among the top Chinese exports to the United States, have been spared by the desire of the administration to minimize the impact on US consumers. The newspaper said that the administration was worried about the reaction of consumers to such taxes.
"Maybe, maybe it depends on the rate," Trump said, citing the possibility of tariffs on mobile phones and laptops, according to the Journal. "I mean, I can win 10%, and people could handle it very easily."
Apple's shares fell after the publication of the interview. A spokesman for Apple did not immediately respond to Reuters' questions.
Apple CEO Tim Cook has personally stressed the issue of tariffs with Trump, explaining to the president that the US-China trade relationship raises valid concerns, but that tariffs are not the best way to solve them.
Despite the use of outsourcing manufacturers to manufacture most of its products abroad, Apple has also sought to highlight its contribution to the US economy, saying it wants to spend about $ 55 billion in 2018 with its suppliers based in the United States.
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