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‘Easier & quicker’: Trump says tariffs are actually better than deal with China
RT,
10 May, 2019
Increased levies on Chinese goods would work faster and better than a traditional agreement so there is no need to speed up ongoing trade talks, US President Donald Trump said after slapping Beijing with additional duties.
The US decision to hike tariffs from 10 percent to 25 percent came into effect on Friday, as the final day of tough talks between the two countries to avert further trade war escalation began in Washington.
However, the US leader said that matters are good enough as they stand now and the deal can wait, as “massive payments go directly” to the US Treasury.
“Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do,” Trump wrote in one of his tweets on Friday morning.
Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do. Our Farmers will do better, faster, and starving nations can now be helped. Waivers on some products will be granted, or go to new source!
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Talks with China continue in a very congenial manner - there is absolutely no need to rush - as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S....
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The US economy has lost $500 billion annually for many years due to “crazy trade” with China, Trump added, reiterating his earlier pledge to end the practice. He also said that the duties make America “much stronger,” while slamming the previous Obama administration for letting “China get away with murder” without elaborating.
Although US Treasury Secretary Steven Mnuchin described the talks as "constructive," they reportedly ended without the US and China reaching an agreement.
Earlier in the day, Beijing vowed to retaliate with all “necessary countermeasures.” China still hopes the ongoing talks will bring about a mutually satisfactory agreement, its Commerce Ministry said.
Later on Friday, Trump further elaborated on relations with China and the tariffs, stating he has had “a very strong”relationship with China’s leader, while the trade talks have been “candid and constructive.” Still, he said the tariffs “may or may not be removed depending on what happens with respect to future negotiations.”
....into the future will continue. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!
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The trade war has already affected billions of mutual imports via tariffs since early 2018, when Trump accused Beijing of unfair trade practices and stealing trade secrets. The new US levies target a wide range of Chinese imports, including electronics, luggage, furniture, construction materials, seafood, and lighting. The measure does not affect items currently en route from China, giving investors hope that the two sides can still come to an agreement before the next shipments.
Global trade may fall victim to Washington’s tariff hike on Chinese goods – Moody’s
France also voiced concern over the escalating US-China trade row, with the foreign minister saying there is “no greater threat to world growth.”The increased tariffs will likely take a toll not only on the parties involved, but also on global trade, Moody’s rating agency warned.
The latest
Trump
orders tariff hikes on remaining Chinese goods, worth about $300bn
RT,
10
May, 2019
US
President Donald Trump has ordered to kick-start the process of
cranking up tariffs on “all remaining Chinese goods” worth $300
billion. That is in addition to a fresh 15 percent tariff hike on
$200 billion worth of imports.
In
a statement Friday, Trump’s chief trade negotiator Robert E.
Lighthizer announced that the US eyes increasing import tariffs on
virtually all Chinese goods.
Earlier
on Thursday, the US increased tariffs on some $200 billion worth of
Chinese goods from 10 to 25 percent as the negotiations over the
trade deal stalled after Bejiing reportedly walked back on some of
the terms of the draft agreement.
As
the high-level US-China trade talks that kicked off on Thursday ended
on Friday with no breakthrough, Lighthizer said that Trump decided to
slap tariffs on additional $300 billion worth of Chinese imports.
“The
President also ordered us to begin the process of raising tariffs on
essentially all remaining imports from China,” he stated.
Although
the Chinese and the US sides seem to be miles away from thrashing out
a deal, Trump appears not concerned with the negotiations hitting a
brick wall.
Ahead
of the final round of talks on Friday, Trump tweeted that tariffs
“are much easier and quicker to do” than a traditional deal,
arguing that the US might be better off without one.
“Tariffs
will bring in FAR MORE wealth to our Country than even a phenomenal
deal of the traditional kind,” he said.
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