(Jacob Pramuk – CNBC)
President Donald Trump said Wednesday that his administration’s tariffs on Chinese imports could stay in place indefinitely until Beijing complies with a still-developing trade deal — which the president said “is coming along nicely.”
“We’re not talking about removing [tariffs], we’re talking about leaving them for a substantial period of time, because we have to make sure that if we do the deal with China that China lives by the deal,” Trump told reporters on the White House lawn as he left to visit an Ohio manufacturing plant.
The president’s comments come amid conflicting reports about how close the world’s two largest economies are to reaching a deal and just what China is willing to concede in talks. Negotiations will restart next week when U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin travel to Beijing.
Trump stressed that “we’re getting along with China very well” as the countries try to strike a deal and ease trade tensions that threaten sustained damage to U.S. businesses. Click here to read more.
- Trump Spooks Markets With China Trade Tariffs Warning (BBC News)
- High-Level U.S.-China Trade Talks to Resume in Final Push for Deal (Wall Street Journal)
- US-China Trade War Could Slash US$1 Trillion From U.S. Economy in a Decade Warns Chamber of Commerce (South China Morning Post)
- The Federal Reserve Just Dimmed Its Outlook for the Economy (Business Insider)