Trump Touts Power of Tariffs; China Says It’s Not Afraid of Trade War with U.S.

  • As President Trump defends his use of tariffs as an effective bargaining tool, China insisted that it’s not afraid of a trade war with the U.S. and will go tit-for-tat.
  • A day after admitting that he was prepared to levy more tariffs against Chinese imports, Trump tweeted: “Tariffs are a great negotiating tool.”
  • On Monday, Trump announced that he would increase tariffs on Chinese goods if he and President Xi Jinping can’t reach an agreement during this month’s G20 summit.
  • Trump has reported that he will meet Xi at the G20, but China has not confirmed that is the case.
  • Chinese Foreign Ministry spokesman Geng Shuang said: “We note that for some time, the U.S. has made multiple public statements that it looks forward to a meeting between the two heads of state during the G20 Osaka Summit. We will release information on this when we have it.”
  • Shuang added: “China does not want to fight a trade war, but we are not afraid of fighting a trade war…If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end.”
  • Previously, Trump said he would make a decision after the G20 summit about placing tariffs on $300 billion worth of Chinese imports.
  • U.S. Commerce Secretary Wilbur Ross said it’s not likely a trade deal will be struck at the summit.
  • Ross said: “At the G20, at most it will be … some sort of agreement on a path forward, but certainly it’s not going to be a definite agreement.”
  • According to reports, “tensions between Washington and Beijing flared in May after the Trump administration accused China of reneging on promises to make structural economic changes during months of trade talks.”

Reference Links

  • Reuters: Trump defends tariff strategy as China says it’s ‘not afraid of a trade war’ READ
  • Newsweek: CHINA INSISTS IT’S NOT AFRAID OF FIGHTING A TRADE WAR AS ADVISER SAYS U.S. ASKED FOR ‘HUNDREDS’ OF CHANGES TO LAWS READ
  • NBC: Trump defends ‘beautiful’ tariffs and hints there’s more to Mexico deal WATCH
  • Fox Business: China vows to ‘fight to the end’ in trade war if US escalates tensions READ

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