Love The Position We're In: Trump On China Amid Trade Dispute

Love The Position We're In: Trump On China Amid Trade Dispute

Whatever you think of Trump's tariffs as a negotiating tactic, you should be troubled by the fact that the resolution of this trade war is in the hands of a man who thinks Americans would be better off if they spent nothing on imported goods they demonstrably want.

Trump in a tweet on Tuesday had said, "We have placed a 25 per cent tariff on "dumped" steel from China and other countries, adding that in one year tariffs have rebuilt our steel industry - it is booming!"

As the tariff announcements triggered stock market losses, Trump told reporters that he's hopeful a trade agreement with China can be reached at a G20 meeting in Japan in late June.

"When the time is right we will make a deal with China", Trump tweeted.

Relations between Washington and Beijing have been tense since US President Donald Trump decided last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the US-Chinese trade deficit.

United States agricultural products have been targeted by China's retaliatory tariffs, and American farmers, a key political constituency for Trump, are increasingly frustrated with the failure of the two sides to find a solution to the dispute.

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"As for how they are pursued, I think that hinges upon further consultations between the two sides", Geng said. Farmers are also suffering from extensive flooding that has delayed planting.

Two U.S. lawmakers voiced support for Trump's trade fight with China, but with reservations. He did not provide details on the plan, which follows US$12 billion in similar farm aid previous year.

Economist Peter Morici discusses the trade tensions between USA and China.

On Monday, the United States and China both announced plans to raise tariffs on billions of dollars worth of products from each other's countries after the United States accused China of reneging on provisions it agreed to in ongoing trade negotiations. The president also ordered tariffs to be raised on all remaining U.S. imports from China, which are valued at around $300 billion. Since then, the two sides have exchanged several rounds of trade duties, as they have yet to produce a deal.

Trump, however, is still dangling the prospect of higher tariffs on Chinese goods.

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