WASHINGTON, May 8 — US President Donald Trump said today he would be happy to keep tariffs on Chinese imports in place, adding that China is mistaken if it hopes to negotiate trade later with a Democratic presidential administration.
“The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to ‘negotiate’ with Joe Biden or one of the very weak Democrats,” Trump tweeted.
“Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier) are now coming to the US to make a deal. We’ll see, but I am very happy with over US$100 Billion a year in Tariffs filling US coffers,” he added.
The United States announced today it would hike tariffs on US$200 billion worth of Chinese imports from 10 to 25 per cent effective Friday, according to a notice posted on the Federal Register.
Sources with knowledge of the talks told Reuters that China has sought to alter previously agreed provisions specifying changes to Chinese laws affecting nearly every chapter of a nearly 150-page proposed trade deal between Washington and Beijing.
The changes sought by China would create major hurdles in reaching a deal in two days of talks with Chinese Vice Premier Liu He this week before the tariff increase goes into effect. — Reuters
