According to a report published by news house CNBC, there are indications that United States President Donald Trump would not be averse to slap imp-ort tariffs on all of the Chinese goods that are sent to the US if there is need to do so.
"I'm ready to go to 500," the president told CNBC's Joe Kernen in a "Squawk Box" interview.
Trump said made this comment while talking about the Chinese goods that were imported into the US in dollar terms in 2017 which was $505.5 billion to be exact. In comparison, the value in US dollars of the goods that were exported from the US into China in the same period was about $129.9 billion. These were data from the Census Bureau.
So far in the ongoing and apparently escalating trade spat between the US and Chines, the former has slapped import tariff on Chinese goods worth just $34 billion which have been met with retaliatory tariffs from China on US goods worth of similar value in dollar terms.
In a tit-for-tat trade battle, the Chinese would not even be able to come close to the US in terms of dollar value of trade. The comments made by Trump clearly indicates a complete willingness to pursue the present course of action in its trade policy with China till such time that the country deems necessary. The aim is to get Chinese tariff concessions together with a pledge to bring to a stop the alleged stealing of American technology in the name of Chinese joint ventures in China.
"I'm not doing this for politics, I'm doing this to do the right thing for our country," Trump said. "We have been ripped off by China for a long time."
There are a number of fronts that the U.S. is "being taken advantage of", Trump said. Such fronts also include trade and monetary policy. Despite such a situation, Trump said that he had not taken any measures in terms of tariffs that carried any ill will towards China
"I don't want them to be scared. I want them to do well," he said. "I really like President Xi a lot, but it was very unfair."
Durng the interview and referring to the Chine US tariffs regimen currently going on, Trump also said he was informed privately by unnamed Chinese officials who said that "nobody would ever complain" from past administrations "until you came along — me. They said, 'Now you're more than complaining. We don't like what you're doing.'"
(Source:www.cnbc.com)
"I'm ready to go to 500," the president told CNBC's Joe Kernen in a "Squawk Box" interview.
Trump said made this comment while talking about the Chinese goods that were imported into the US in dollar terms in 2017 which was $505.5 billion to be exact. In comparison, the value in US dollars of the goods that were exported from the US into China in the same period was about $129.9 billion. These were data from the Census Bureau.
So far in the ongoing and apparently escalating trade spat between the US and Chines, the former has slapped import tariff on Chinese goods worth just $34 billion which have been met with retaliatory tariffs from China on US goods worth of similar value in dollar terms.
In a tit-for-tat trade battle, the Chinese would not even be able to come close to the US in terms of dollar value of trade. The comments made by Trump clearly indicates a complete willingness to pursue the present course of action in its trade policy with China till such time that the country deems necessary. The aim is to get Chinese tariff concessions together with a pledge to bring to a stop the alleged stealing of American technology in the name of Chinese joint ventures in China.
"I'm not doing this for politics, I'm doing this to do the right thing for our country," Trump said. "We have been ripped off by China for a long time."
There are a number of fronts that the U.S. is "being taken advantage of", Trump said. Such fronts also include trade and monetary policy. Despite such a situation, Trump said that he had not taken any measures in terms of tariffs that carried any ill will towards China
"I don't want them to be scared. I want them to do well," he said. "I really like President Xi a lot, but it was very unfair."
Durng the interview and referring to the Chine US tariffs regimen currently going on, Trump also said he was informed privately by unnamed Chinese officials who said that "nobody would ever complain" from past administrations "until you came along — me. They said, 'Now you're more than complaining. We don't like what you're doing.'"
(Source:www.cnbc.com)