Thu. Mar 28th, 2024
warning is being given by donald trump

Washington DC, June 27: United States President Donald Trump has on Thursday warned China of a deeper trade spat ahead of a summit with his Chinese counterpart Xi Jinping on the sidelines of the G20 summit scheduled to take place in Osaka, Japan, this weekend.

According to Dawn news reports, the global markets are anxiously closely watching the Xi-Trump meeting which is due on Saturday, for the improvement in the trade dispute between the world’s two largest economies.

Ahead of departing for the G20 Osaka summit, Trump, in an exclusive interview with Fox Business News, said, “China’s economy is going down the tubes — they want to make a deal.”

On Wednesday, the US president strongly hinted he was prepared to impose fresh trade tariffs over all the remaining Chinese goods imports worth over $300 billion.

Trump told Fox, “You have another $325 billion that I haven’t taxed yet — it’s ripe for taxing, for putting tariffs on.”

He further stated, “What is happening is people are moving out of China. Companies are moving out of China, by the way, some are coming back to the United States because they don’t want to pay the tariff.”

However, the president said an earlier threat to tax the remaining Chinese segment at 25pc could be decreased to 10pc.

In May, both the sides had said they were close to cracking a trade deal before trade negotiation broke down.

 

 

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