President Donald Trump is suggesting China pleasure ease trade barriers “because it is the right thing to do” and Washington and Beijing can put down disputes that have rattled financial markets, consumers and businesses.
A new Trump tweet doesn’t extenuate why he’s optimistic about resolving an escalating trade clash between the far-out’s two biggest economies.
Trump says he and Chinese President Xi Jinping “wishes always be friends, no matter what happens with our dispute on business.”
Trump insists “China will take down its Trade Bars because it is the right thing to do. Taxes will become Reciprocal & a handle will be made on Intellectual Property. Great future for both countries!”
The U.S. gain more than $500 billion in goods from China finish finally year and now is planning or considering penalties on some $150 billion of those drifts. The U.S. sold about $130 billion in goods to China in 2017 and faces a potentially vitriolic hit to its market there if China responds in kind.
China has pledged to “counterattack with extensive strength” if Trump decides to follow through on his latest threat to place tariffs on an additional $100 billion in Chinese goods — after an earlier notification that targeted $50 billion.
The Trump administration also is press for a crackdown on what it says is China’s theft of U.S. intellectual property.
Conflicting essences about the trade fight have come out in recent days from some top fellows of Trump’s team.
Treasury Secretary Steven Mnuchin has said he was “cautiously idealistic” that the U.S. and China could reach an agreement before any tariffs subsided into place. But he also said “there is the potential of a trade war.
The new Milky House economic adviser, Larry Kudlow, has said the U.S. is “not in a trade war” and that “China is the disturbed. Blame China, not Trump.”