Trump: China Hopes to ‘Negotiate’ Trade Issues With Joe Biden or ‘Weak’ Dems

Trump: China Hopes to ‘Negotiate’ Trade Issues With Joe Biden or ‘Weak’ Dems from Sputnik News

President Donald Trump announced on 6 May that Washington would be raising tariffs on $200 billion worth of Chinese goods, citing a lack of progress in trade talks between the two states aimed at ending the almost year-long trade war.

China’s Commerce Ministry has threatened to strike back if Washington proceeds with a plan to increase tariffs on Chinese imports on Friday.

US President Donald Trump previously said in a statement on Wednesday that China is trying to make a trade deal with the United States, but if trade talks with Beijing fail, he will be happy because Washington will fill its coffers with billions of dollars from tariffs on Chinese goods.

“​China has just informed us that they (Vice-Premier) are now coming to the US to make a deal”, Trump said. “We’ll see, but I am very happy with over $100 billion a year in tariffs filling US coffers… great for US, not good for China!”

Meanwhile, a notice posted in the Federal Register revealed on Wednesday that the Trump administration will increase tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent effective 10 May.

“In accordance with the direction of the President, the US Trade Representative (Trade Representative) has determined to modify the action being taken in this Section 301 investigation by increasing the rate of additional duty from 10 percent to 25 percent for the products of China covered by the September 2018 action in this investigation”, the notice said. “The rate of additional duty will increase to 25 percent with respect to products covered by the September 2018 action on May 10, 2019”.    

China and the United States have been engaged in a trade dispute since last June, when Trump announced that the United States would subject $50 billion worth of Chinese goods to 25 percent tariffs in a bid to fix the over $400 billion US trade deficit with China. Since then, the two countries have exchanged several rounds of trade tariffs.

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Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.