The United States President Donald Trump on Wednesday, threatened to impose new penalties against Beijing and Chinese products if China fails to implement major changes in US-China economic relationship.
In a tweet, Trump wrote: “President Xi Jinping and I want this deal to happen, and it probably will.”
Trump, further threatening China, wrote: “But if not, remember ‘I am a Tariff man’. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN.”
China on Wednesday, said now time has come to push forward the trade negotiation and make deal with the United States in next 90 days, and also vowed to implement “immediate” changes to the agreements signed between both the countries.
The commerce ministry of China assure the agreement signed between Chinese President XI Jinping and US President Donald Trump at G20 summit had been “successful” and thus China was “confident” about the new implementation on their agreements.
In a statement, ministry said, “The economics and trade teams of both sides will actively push forward negotiations within 90 days in accordance with a clear timetable and roadmap.”
Without disclosing further details about the agreement signed, ministry said, “China will start with the implementation of the specific matters in which consensus has been reached, the sooner the better.”
No official details were disclosed except what ministry statement has stated, was the first public announcement from the Chinese government about 90-day extension.
Trump, however, also threatened to impose tariff on China, if failed to reach an agreement with the given deadline.
White House national economic council director Larry Kudlow said US doesn’t signed any agreement to China over removing auto tariffs, instead expected China to do so in order of good faith.
Kudlow said China’s vice premier Liu He had told him that China will “immediately” implement changes to the agreement, to show US that China was very serious about new agreements. But, however, no implementation process evidence has been yet noticed.
Kudlow said “I have no assurance” whether China would do so. He said, “It looks to me that the ball is being moved in the right direction.”
Chinese are worried after they heard Trump threatening them. Chinese official said, “You don’t do this with the Chinese. You don’t triumphantly proclaim all their concessions in public. It’s just madness.”
White House national security adviser John Bolton said, “We need to see some major changes in their behavior.”
Kudlow said the aim was to dismiss any sort of tariff on any imports, but if Trump called himself “tariff man” doesn’t mean that he will impose tariffs against Chinese aids.