Stakes get higher in US-China trade war

Shanghai – US President Donald Trump thinks there will be “a great deal” with China on trade, but warned that he has billions of dollars worth of new tariffs ready to go if a deal isn’t possible.

“I think that we will make a great deal with China and it has to be great, because they’ve drained our country,” Trump told a Fox TV channel on Monday.

Trump said in the interview he would like to make a deal now, but China was not ready.

Bloomberg said on Monday Washington was preparing to announce tariffs on all remaining Chinese imports by December if talks next month between Trump and his counterpart Xi Jinping fail to ease the trade war. – Reuters