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Trump, in a Wall Street Journal interview released Monday, said he was ready to impose customs duties on a last batch of Chinese shipments of $ 267 billion when he could not conclude an agreement with Xi at the meeting of the Group of 20 in Argentina The rate could be 10 or 25%, said Trump.
Trump said that Apple Inc.'s iPhones and laptops imported from China could be affected by new tariffs. Americans could "very easily" handle a 10% tariff, he said.
The only deal the US will accept is that China opens up its economy to allow US companies to be competitive, Trump said.
"The only deal would be for China to open up its country to US competition," said the president. "As for other countries, it belongs to them."
In September, the Trump government plunged more into a trade war with China by imposing a 10% tariff on the $ 200 billion worth of Chinese goods. He announced that this rate would increase to 25% on January 1st.
The United States is unlikely to accede to Beijing's requests to refrain from raising tariffs, Trump said.
"It is largely a tactic of negotiation," said Tao Dong, vice president of Greater China Credit Suisse Private Banking in Hong Kong. "The Trump Administration App seems to be a consistent practice."
The United States had already imposed tariffs of $ 50 billion on Chinese products earlier this year, which Beijing responded to dollar by dollar. China has since added retaliatory rights on an additional $ 60 billion worth of US products.
Chinese officials said the main result of the Trump-Xi meeting was to convince the United States to refrain from raising tariffs, the Wall Street Journal reported, without identifying those responsible.
Trump told the Journal that his advice to US companies involved in the trade dispute is to build factories in the United States and manufacture their products in the domestic market. – Bloomberg
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