President Trump on China Trade Deal – May Wait Until After 2020 Election

Trump denied that he was in love with Facebook, Google and Twitter. He said that Huawei could be a bargaining chip in the commercial dispute. With Steve Holland LONDON (Reuters) United States President Donald Trump said a trade agreement with China may have to wait until after the US presidential election in November 2020, dents hopes for a speedy resolution of a dispute that has weighed on the world economy.

While Trump insists tariffs are beneficial for US Treasury funds, in reality, costs are passed on to US companies and consumers. He also criticized the French president, Emmanuel Macron, saying that he sometimes did things that were counter-productive for his country. LONDON (Reuters) United States President Donald Trump said a trade agreement with China may have to wait until after the US presidential election in November 2020, dents hopes for a speedy resolution of the dispute that weighed on the economy world.

While Trump insists tariffs are beneficial for US Treasury funds, in reality, the costs are passed on to US companies and consumers. On Monday, he wrote on Twitter that he is restoring tariffs on steel and aluminum from Argentina and Brazil, criticizing them for what he said is the trivialization of their currencies to the detriment of US farmers. Trump and Chinese President Xi Jinping met at the 20 Summit Group in Japan last month and declared a temporary truce in their year-long trade war.

During a wide-ranging session with journalists in the Oval Office, Trump said that China is using delaying tactics and doubted a trade agreement would be reached soon, with lead negotiators for the two countries meeting in Shanghai next week . He stated that China should have started buying our agricultural company product ”, but showed no signs that they are doing it ” and continue to change the terms of a possible agreement as US officials are engaged in negotiations. Trump and Chinese President Xi Jinping planned to meet and sign an Asia-Pacific leader’s preliminary trade agreement at the summit in Chile in mid-November, but the summit was canceled due to violent anti-government protests in Santiago.

More than a year after Trump first collected punitive tariffs on Beijing, the conflict between two-largest economies in the world has expanded only as both Trump and Xi face political pressure to resist the key demands on the other side. He has repeatedly stated that Beijing would have preferred to negotiate with a democrat and the talks are stalled in the hope that it happens. Trump and Chinese President Xi Jinping had planned to meet and sign an Asia-Pacific leader’s preliminary trade agreement at the summit in Chile in mid-November, but the summit was canceled.

Trump imposed duties on $ 250 billion of Chinese imports, and China has counterpunched by taxing $ 110 billion on US products. He insisted that the United States has the leverage in the negotiations, even though its predecessors might not have recognized its own advantage. Trump, who is seeking re-election in the wake of an economic boom, reported Friday that there is no hurry to secure an agreement.

On Monday, before leaving for London, Trump said the US law enforcement backing protesters in Hong Kong was not doing trade negotiations with China easier, but he believed Beijing still wanted a deal with the United States. He held a press conference in London to attend a NATO summit, and as journalists asked him about the ongoing negotiations with China, the president left the deadline for a trade deal open, while expressing interest in returning for one year. He added that he had no deadline for the deal and that a delay may be better. President Trump has accused China of wanting to stall trade negotiations through the 2020 election in the hope of being able to negotiate with a more malleable democratic president. Trump and Chinese President Xi Jinping planned to meet and sign an Asia-Pacific leader’s preliminary trade agreement at the summit in Chile in mid-November, but the summit was canceled due to violent anti-government protests in Santiago.

The deal was paralyzed about how the terms would be committed to writing and if the administration would remove some of the $ 550 billion of tariffs on Chinese imports it imposed. A trade agreement seemed imminent, until last week, when China sent American negotiators a cable with cross-text that both parties had been working. The China trade agreement is dependent on one thing I want to do, because we are doing very well with China right now, and we can do even better with a stroke of a pen, he said.