SHANNON, Ireland/Beijing, June 6: United States President Donald Trump has on Thursday threatened China to impose tariffs on Chinese goods worth $300 billion, but stated he thought Mexico and China were seeking to ink agreements in their trade spat with Washington.
According to Reuters news reports, while Trump said trade talks are under process with the Chinese officials, no practical meetings have been yet held since May 10, when he jolted China with 25 per cent tariffs hike over $200 billion Chinese goods, prompting Beijing to retaliate.
Without mentioning specifically which Chinese goods could be attacked with tariffs, the US president said, “Our talks with China, a lot of interesting things are happening. We’ll see what happens … I could go up another at least $300 billion and I’ll do that at the right time.”
Before traveling to France to address the D-Day commemorations, Trump, at the Irish international airport of Shannon, said, “But I think China wants to make a deal and I think Mexico wants to make a deal badly.”
In Beijing, Chinese commerce ministry spokesperson Geo Feng told a daily media briefing, “If the United States willfully decides to escalate tensions, we’ll fight to the end.”
He added, “China does not want to fight a trade war, but also is not afraid of one. If the United States wilfully decides to escalate trade tensions, we’ll adopt necessary countermeasures and resolutely safeguard the interests of China and its people.”
The ministry also issues a report over how the US has enjoyed beneficiary from years of trade and economic cooperation with China, stating Washington’s claims that Beijing has taken advantages in the bilateral trade were totally groundless.
In a research report, the ministry stated: “Since the new U.S. administration took office, it has disregarded the mutually beneficial and win-win nature of China-U.S. economic and trade cooperation, and has advocated the theory that the United States has ‘lost out’ to China on trade.”
“It has also taken the trade deficit issue as an excuse to provoke economic and trade frictions.”
On Wednesday, the IMF (International Monetary Fund) has warned rising tariffs threats were collapsing market and business confidence, as well as, could also gear down global growth that was currently likely to be improved next year.