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President Trump said Monday during an interview with The Wall Street Journal that he would meet with Chinese President Hu Jintao at the G20 summit in Buenos Aires, Argentina, otherwise we will impose a tariff of 10% to 25% on remaining Chinese imports of $ 267 billion. "We do not expect to accept China's request to maintain the tariff increase on China's imports to the tune of $ 200 billion," he added.
Trump said the strategy was aimed at getting as much concessions as possible from China in terms of trade imbalances, unfair practices in China and the theft of technology.
It can be said that "trading technology" is peculiar to businessmen, but if China does not respond to the demands of the United States, the trade war between the world's first and second economies will fear that the whole world be hit hard. .
The Trump administration launched a "tariff war", which imposed a 25% tariff on Chinese imports, worth $ 50 billion, in July and August.
In September, he imposed a 10% tariff on a $ 200 billion scale. The tariff rate of 200 billion US dollars will be 10% for the first tariff war, four times more than 50 billion US dollars, and plans to raise the rate of customs duty to 25% from January 1st of next year. The Trump administration also warned that it could levy high tariffs on the remaining 267 billion dollars of Chinese imports. China is likely to resort to blind tariff bombardment for all products exported to the United States. President Trump confirmed again in an interview that he intended to carry out this tariff-bomb program.
In particular, President Trump warned that additional fees could include Apple iPhones and laptops made in China. "Maybe it depends on tariffs," he said, adding that "10 percent tariffs can be paid, and people will be able to resist that." Meanwhile, the first and second price bombs in the United States missed the Apple iPhone, produced in China. The imposition of tariffs on the iPhone is symbolic. This is because it is a typical consumer product. The first tariff wars, worth $ 50 billion, were mainly due to the limited rise in tariffs imposed by US consumers on capital goods and intermediate goods, including parts. automobiles. However, since consumers are sensitive to the price of the iPhone, the imposition of customs duties on the iPhone may increase US complaints about tariff warfare.
Nevertheless, President Trump has raised the possibility of imposing a tariff on the iPhone from China, which is interpreted as a firm commitment to continue the tariff war. At the same time, it seems to contain a message stating that "the plant will be transferred to the United States".
The key issue of the summit between the United States and China is the level of consensus mentioned by President Trump. This will be the key to the extent to which China will be able to cede to the United States under the "China Manufacturing 2025" project, which pursues the national goodwill.
China Manufacturing 2025 is a development project of ten key industries in which China is moving from quantitative manufacturing growth to qualitative growth, including information technology, aerospace and robotics. The United States accuses China of doing this as a "theft of technology".
The US Trade Representative (USTR) said in a report on China's actions, policies and practices on technology transfer, intellectual property and innovation, that the strategy of China's infringement of intellectual property, called "technology theft" But it also causes damage to Australia, Japan, the European Union and South Korea. "
Considering that the United States, which is trying to suppress China, has focused on China's "technology theft" as well as China's unfair trade practices and threats to national security before the US-China summit, This will affect probably the success or failure of the discussions.
Trump told a White House reporter that the possibility of a trade deal between the two countries is "likely to occur," but that prospects are predominant for the moment.
"This is not the biggest step forward so far," said the WSJ. "This week, Chinese Vice Premier Liu Hsiao traveled to Germany to attend the China-Europe Forum without going to Washington DC to meet with the US negotiator."
Meanwhile, the US-China summit is expected to be held next month. The Hong Kong Media South China Morning Post (PCMP) announced that President Trump and the Chancellor of the city plan to hold bilateral talks on the 29th, the day before the opening of the G-20 summit, but that They should stand on the first day of the month.
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