Trump says he expects 'great deal' with China, but more tariffs if not

 

A cargo ship is seen behind containers at an automated container terminal in Qingdao port, Shandong province, China October 1, 2018. Picture taken October 1, 2018. REUTERS/Stringer

 

SHANGHAI (Reuters) - U.S. President Donald Trump said he 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 FOX News Channel's "The Ingraham Angle" on Monday.

 

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

 

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

 

Both Trump and Xi are expected to attend next month's G20 summit in Buenos Aires, where they could meet.

 

Chinese Foreign Ministry spokesman Lu Kang said China and the United States have all along been in communication about exchanges at all levels, including a possible Xi-Trump meeting in Argentina, though he gave no details.

 

If the United States is not willing to promote win-win cooperation with China then China is fully confident in being able to continue with its reforms and develop itself, Lu added.

 

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of U.S. goods.

 

"And I have $267 billion waiting to go if we can't make a deal," Trump said.

 

Trump has long threatened to impose tariffs on all remaining Chinese imports into the United States if Beijing fails to meet U.S. demands for sweeping changes to Chinese trade, technology transfer and industrial subsidy policies.

 

(Reporting by John Ruwitch; Additional reporting by Ben Blanchard in Beijing; Editing by Kim Coghill)

 

-- © Copyright Reuters 2018-10-31

A great deal, as great as the one struck with North Korea over nuclear disarmament perhaps?

9 minutes ago, JAG said:

A great deal, as great as the one struck with North Korea over nuclear disarmament perhaps?

I doubt it will be as great a deal as that, Trump is on his own here Denis Rodman is otherwise occupied.

1 hour ago, webfact said:

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

Good move, the simpler the lie, the better. 

Insanity is bliss.

Quite possible trump will lose some States in the midterm elections due to Chinese retaliatory actions due to his tariff war with China. What then?

All Xi Jinping has to do is say something nice about Donald and he will roll over lol it worked for little Kim in N Korea lol

Bash Trump all you like, but what he is trying to do is NOT wrong.

 

So far with all the tit for tat tariffs, Chinese Yuan has fallen to its lowest levels in a decade so clearly Trumps plan is working, just need to wait and see if he can pull it all the way in US favor

The art of I cannot make a deal that is good for the American people, to save my life. 

 

This man has drained the swamp. Of 4-6 foot alligators. And repopulated it with 8-13 foot crocodiles. Moving America backwards by the day. Wait another week Mr. Lame Duck president.

8 hours ago, BestB said:

Bash Trump all you like, but what he is trying to do is NOT wrong.

 

So far with all the tit for tat tariffs, Chinese Yuan has fallen to its lowest levels in a decade so clearly Trumps plan is working, just need to wait and see if he can pull it all the way in US favor

Trump has complained in the past about the Yuan being kept artificially low ( because it helps Chinese exports ). So how exactly now is a weak Yuan good for the USA ?

The Chinese can prolong a trade war indefinitely , the government does not have to worry about domestic elections or demonstrations .

Trump on the other hand has plenty to worry about as it is largely his political base that is being most badly hurt , who is holding the aces ?

8 hours ago, simple1 said:

Quite possible trump will lose some States in the midterm elections due to Chinese retaliatory actions due to his tariff war with China. What then?

He will blame somebody else , likely the media or Obama lol. The hilarious thing is that his more moronic supporters will lap it up , they are not going to save him though.

4 hours ago, joecoolfrog said:

Trump has complained in the past about the Yuan being kept artificially low ( because it helps Chinese exports ). So how exactly now is a weak Yuan good for the USA ?

The Chinese can prolong a trade war indefinitely , the government does not have to worry about domestic elections or demonstrations .

Trump on the other hand has plenty to worry about as it is largely his political base that is being most badly hurt , who is holding the aces ?

Firstly I did not say it was good for US.

Secondly there is a huge difference between being made artificial and forces of market.

Yuan falling is a sign of tariffs hurting Chinese economy.

20 minutes ago, BestB said:

Firstly I did not say it was good for US.

Secondly there is a huge difference between being made artificial and forces of market.

Yuan falling is a sign of tariffs hurting Chinese economy.

The Yuan was not being artificially depressed by the Chinese Govt. long before Trump took office. In fact from mid 2014 onwards it was selling its dollars.

10 minutes ago, bristolboy said:

The Yuan was not being artificially depressed by the Chinese Govt. long before Trump took office. In fact from mid 2014 onwards it was selling its dollars.

I know you struggle with reading as you usually do but where did I say it was ????

3 minutes ago, BestB said:

I know you struggle with reading as you usually do but where did I say it was ????

Where did I say you said it was? Somebody's struggling with reading.

15 minutes ago, bristolboy said:

Where did I say you said it was? Somebody's struggling with reading.

By quoting me with your nonsense , doh

1 minute ago, BestB said:

By quoting me with your nonsense , doh

Just making sure that those unfamiliar with the history of the Yuan understand the actual situation. Especially given the widespread credence given to Trump's falsehoods.

5 hours ago, joecoolfrog said:

Trump has complained in the past about the Yuan being kept artificially low ( because it helps Chinese exports ). So how exactly now is a weak Yuan good for the USA ?

The Chinese can prolong a trade war indefinitely , the government does not have to worry about domestic elections or demonstrations .

Trump on the other hand has plenty to worry about as it is largely his political base that is being most badly hurt , who is holding the aces ?

 

While the Chinese leadership doesn't have to deal with pesky elections, it cannot completely ignore public unrest. Tight domestic control aside, the China of today isn't the China of previous decades. I doubt that a significant change in prosperity would be taken in stride, regardless of government propaganda and spin. Asserting that China can "prolong a trade war indefinitely" sounds like a myth.

 

As for Trump - he already demonstrated that he can spin a yarn to satisfy his voter base, well enough for them to play along. Things can get worse for many of his supporters, but this will take time to effect voting patterns and elections results. Plus there's an endless pool of deflections, diversions and scapegoats - seems to be working fine so far.