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Reuters
Washington
US President Donald Trump insisted on Tuesday that trade talks with China have not collapsed and called the widening U.S.-China tariff war “a little squabble,” even as his administration readies 25% duties on all remaining Chinese imports.
Expanding on a stream of optimistic early morning tweets about the state of talks, Trump told reporters that he has a “very good dialogue” going with China and touted his “extraordinary” relationship with Chinese President Xi Jinping.
“We have a dialogue going. It will always continue,” Trump said. “But we made a deal with China ... We had a deal that was very close but then they broke it. They really did.”
Trump appeared to downplay the scope of the trade war, which could lead to tariffs this summer on all trade between the world’s two largest economies, raising costs and disrupting supply chains across the globe.
“We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades,” Trump said, referring to U.S. complaints about Chinese intellectual property and subsidy practices.
Stocks, which took a beating on Monday after Trump late on Friday threatened a new round of tariffs on about $300 billion worth of remaining imports from China, gained strength after Trump’s comments, with the tech-driven Nasdaq up 1.47% in midday trade.
The Dow Jones Industrial average was up 1.28% while the broader S&P 500 was
up 1.3%.
Trump earlier tweeted that a deal would happen and appealed to China to buy U.S. farm products.
“When the time is right we will make a deal with China,” Trump said. “It will all happen, and much faster than people think!”
“Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference,” he wrote in post addressing U.S. farmers directly.
Trump on Monday said that his administration was planning to provide about $15 billion in aid to help U.S. farmers whose products were targeted by Chinese retaliatory tariffs.
Washington
US President Donald Trump insisted on Tuesday that trade talks with China have not collapsed and called the widening U.S.-China tariff war “a little squabble,” even as his administration readies 25% duties on all remaining Chinese imports.
Expanding on a stream of optimistic early morning tweets about the state of talks, Trump told reporters that he has a “very good dialogue” going with China and touted his “extraordinary” relationship with Chinese President Xi Jinping.
“We have a dialogue going. It will always continue,” Trump said. “But we made a deal with China ... We had a deal that was very close but then they broke it. They really did.”
Trump appeared to downplay the scope of the trade war, which could lead to tariffs this summer on all trade between the world’s two largest economies, raising costs and disrupting supply chains across the globe.
“We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades,” Trump said, referring to U.S. complaints about Chinese intellectual property and subsidy practices.
Stocks, which took a beating on Monday after Trump late on Friday threatened a new round of tariffs on about $300 billion worth of remaining imports from China, gained strength after Trump’s comments, with the tech-driven Nasdaq up 1.47% in midday trade.
The Dow Jones Industrial average was up 1.28% while the broader S&P 500 was
up 1.3%.
Trump earlier tweeted that a deal would happen and appealed to China to buy U.S. farm products.
“When the time is right we will make a deal with China,” Trump said. “It will all happen, and much faster than people think!”
“Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference,” he wrote in post addressing U.S. farmers directly.
Trump on Monday said that his administration was planning to provide about $15 billion in aid to help U.S. farmers whose products were targeted by Chinese retaliatory tariffs.
