Daily Management Review

A Trade Deal With China Is Possible, Believes Trump


11/19/2018




A Trade Deal With China Is Possible, Believes Trump
It has been just a day that the United States president Donald Trump had expressed his optimism about the US being able to strike a trade deal with China and again stressed that he expects to arrive at a deal that would be created on a fair and reciprocal basis.
 
US President Donald Trump on November 16 said he thinks there will be a trade deal with China, reiterating that he wants a deal which is fair and on a reciprocal basis.
 
Trump's statement came ahead of his meeting with his Chinese counterpart Xi Jinping in Argentina later this month.
 
The trade wear was initiated by Trump in June this year by imposing import tariffs on Chinese goods worth billions of dollars in order to exert pressure on China to change its trade practices so that the US is able to reduce its more than $335 billion trade deficit in $710.4 billion bilateral trade that the country had with China in 2017.
 
"We have tariffs coming in on $250 billion worth of goods and we're talking about billions and billions of dollars a month will flow into our country, and has already started flowing into our country, that comes from China," Trump told reporters during a news conference.
 
"So China's never been put in this position, and I don't want to put them in a bad position. I want to put them in a great position. But it's called reciprocal. We have to have a reciprocal trade. We can't have a trade that's meant for stupid people. And that's the way they took advantage of our country. And we don't have that anymore, and they understand that," he said.
 
"I think a deal will be made. We'll find out very soon," Trump said in response to a question.
 
According to reports published in the media, China is ready to negotiate trade practices and policies on 142 items and it Beijing has sent a list of the items to Washington. Trump reacted by saying: “That's good.”
 
"China wants to make a deal. They sent a list of things that they're willing to do, which was a large list. It is just not acceptable to me yet, but at some point, I think we are doing extremely well with respect to China. I have a great respect for President Xi. I have a great respect for China," Trump said.
 
Trump has, on multiple occasions, alleged that it has been years that China has been taking advantage of the weaknesses of the United States.
 
"I think that they're going to come in, and we're going to either open up China and make it fair, because it's not fair right now. They do very little business with us, and we do a lot of business. It, you know, it's just can't be. Plus they have tremendous barriers. They have tremendous tariffs on us that we didn't have on them," he said.
 
Bur Trump said that all that has changed now.
 
The UD administration has imposed tariffs on Chinese goods worth $250 billion and if it wants, it can also impose tariffs on the rest of the $267 billion. Trump said.
 
(Source:www.moneycontrol.com)






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