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The President told the Wall Street Journal in a IThe interview published Monday said that it was "very unlikely" that he accepts an offer from Chinese leader Xi Jinping to prevent Trump's plan to increase tariffs on more than 200 billion dollars of Chinese products to 25% in January.
He also warned again that he was about to slap a third round of tariffs on Chinese products if the two leaders failed to end the commercial divide when they would meet each other. later this week in Buenos Aires, Argentina, on the sidelines of the G20 summit. .
"If we do not agree, I will add another $ 267 billion," Trump said in the interview, adding that the level of tariffs could be 10% to 25%.
Trump said in the interview that this could include tariffs on Apple products imported from China, including iPhones and laptops. Apple's shares fell 1.5% after office hours, wiping out the previous gains of the day.
"Maybe, maybe it depends on the rate," said the president. "I mean, I can win 10%, and people could handle it very easily."
Rates have attracted complaints from US companies responsible for paying import duties. This also raises concerns about the recovery of inflation, even as the Federal Reserve raises its interest rates in December.
More than 100 companies in the S & P group have already telegraphed preemptively in the third quarter, comparing the results with the damages that other rates would impose on the US economy. Several companies, including Walmart, the country's largest retailer, warned that prices for everyday consumer goods such as shampoos, detergents and paper products – such as napkins – would become more expensive for consumers.
In the run-up to this weekend's meeting of leaders, Trump representatives have continuously warned Beijing negotiators that the president's threats should be taken seriously.
Vice President Mike Pence said earlier this month that Trump was in no hurry to end the trade war and was ready to "more than double" the already applied tariffs to $ 250 billion on Chinese products. The United States "will not change course as long as China does not change its course," Pence said in a speech at the Asia-Pacific Economic Cooperation Summit in Papua New Guinea.
The next meeting is the only imminent opportunity for Trump to meet with Xi before the January 1 deadline, and investors are eagerly looking for signs of a truce between the two parties.
Speaking on the South Lawn with reporters, Trump covered bets on a possible deal with his Chinese counterpart. "It could happen, they have to treat us fairly," he said.
While up to now attention on the damage caused by existing tariffs has been largely focused on China, political scientists and economists have also warned that US companies could have deeper consequences if the Chinese chose to limit American investments.
"The problem for businesses lies largely in uncertainty," said David Dollar, senior manager of the John L. Thornton China Center at the Brookings Institution and former China's economic and financial envoy to the Treasury Department under the President Barack Obama. "They can live with any political regime, whether we tax everything from China or not, they hate the uncertainty."
