Trump says China tariffs will go ‘even higher’ with­out deal

Muscat Daily - - BUSINESS -

Wash­ing­ton, US - US Pres­i­dent Don­ald Trump on Tues­day warned that fail­ure to get a trade deal with China will prompt more tariffs.

“If we don’t make a deal with China, I’ll just raise the tariffs even higher,” he told re­porters at the White House.

Trump’s lat­est tough com­ment came as mar­kets are watch­ing in­tensely for signs of progress in the two eco­nomic su­per­pow­ers’ at­tempt to reach a so-called ‘phase one’ par­tial deal tak­ing the heat out of a grow­ing trade war.

Pre­dic­tions of a res­o­lu­tion have come and gone re­peat­edly as Trump veers from hints of im­mi­nent deals to declar­ing his sat­is­fac­tion with the cur­rent stand­off, be­cause the United States is pulling in bil­lions of dol­lars in trade tariffs.

Skep­tics say even a par­tial pact hinges on Trump rolling back ex­ist­ing tariffs, some­thing his lat­est com­ment about in­creas­ing the du­ties would ap­pear to put in doubt.

The near-deal be­tween the US and China that fell apart six months ago is now be­ing used as the bench­mark to de­cide how much tariffs should be rolled back in the ini­tial phase of a broader trade agree­ment, peo­ple fa­mil­iar with the talks told Bloomberg.

The two sides, who are locked in tough - per­haps fi­nal - ne­go­ti­a­tions on a phase-one pact, are dis­cussing link­ing the size of tar­iff roll­backs to the pre­lim­i­nary terms set in that failed May deal, ac­cord­ing to the peo­ple, two of whom said the White House is still de­bat­ing the pre­cise per­cent­age in­ter­nally.

The du­ties un­der dis­cus­sion for a po­ten­tial roll­back in­clude the ini­tial tariffs on some US$250bn in Chi­nese goods that Trump im­posed last year, ac­cord­ing to two peo­ple.

(AFP)

US Pres­i­dent Don­ald Trump

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