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US, China dealing trade negotiations at highest levels: Trump
Washington, Jan 6, 2018 (BSS/PTI) – The US and China are dealing the trade
negotiations at the highest levels, President Donald Trump said, claiming
that America’s steel industry has come “roaring back” following the last
year’s tariff hikes.
The Trump administration imposed heavy tariffs on imported steel and
aluminium items in March last year, a move that sparked fears of a global
trade war.
In the past, China, the world’s second largest economy after the US, imposed
tit-for-tat tariffs on billions of dollars worth of American imports. An
agreement reached between the two countries on the margins of the G20 summit
in Argentina in November deferred the imposition of further tariffs till
March.
China has pledged to take measures to step-up American imports and
investments to meet the US’ demand of bringing down the USD 375 billion
bilateral trade deficit. March 1, 2019 is the deadline for implementing the
measures.
Currently, top officials from the United States and China are involved in
trade negotiations.
Trump told reporters during a Rose Garden news conference: “We have a massive
trade negotiation going on with China. President Xi (Jinping) is very much
involved; so am I. We’re dealing at the highest levels and we’re doing very
well.
“In the meantime, we’ve taken in billions and billions of dollars in tariffs
from China, and from others. Our steel industry has come roaring back, and
that makes me very happy”.
In November, Trump and Xi met in Buenos Aires.
“China is paying us tremendous tariffs. We’re getting billions and billions
of dollars of money pouring into the Treasury of the United States, which, in
history, we’ve never gotten from China. As you know, it’s been very unfair,
he said.
Trump said he had a fantastic meeting with President Xi and they both like
and respect each other.
“One of the things that came out of that meeting was fentanyl. As you know,
almost all of it comes from China. And he’s going to now criminalise the
making of fentanyl. I think that could have a tremendous — and I thanked
President Xi very much, he said.
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Trump said his meeting with Xi in Argentina was supposed to last for about 45
minutes, but it ended up being almost four hours.
It was a great meeting. We’ll see what happens. You never know with a deal,
he said.
China, he told reporters, is not doing well now in economy.
We are doing very well. But we’re taking in billions and billions of dollars,
and I hope we’re going to make a deal with China. If we don’t, they’re paying
us tens of billions of dollars’ worth of tariffs. It’s not the worst thing in
the world.
I think we will make a deal with China. I really think they want to. I think
they sort of have to. I think we’re going to have a great relationship. I
think that President Xi and myself have a great relationship. Also, North
Korea. We’re doing very well with North Korea, and that’s based on
relationship also, he said.
Responding to a question on Apple’s recent announcement, Trump said that the
American phone manufacturer would be fine.
“Apple makes their product in China. I told Tim Cook, who’s a friend of mine,
who I like a lot: Make your product in the United States. Build those big,
beautiful plants that go on for miles, it seems. Build those plants in the
United States.
“Apple makes its product in China which is the biggest beneficiary of Apple,
more than us, because they build their product mostly there. But now he is
investing USD 350 billion because of what we did with taxes and the
incentives that we created. In the United States, he’s going to build a
campus, and lots of other places,” Trump added.
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