 "The latest escalation follows China’s move last week to impose export restrictions on rare earth minerals, a sector in which it holds dominant global control. (File Photo: Reuters)")
US President Donald Trump has said that the tariffs imposed on China were “not sustainable,” even as tensions between Washington and Beijing rise ahead of his expected meeting with Chinese President Xi Jinping in two weeks.
Days after claiming there was “no reason” to meet Xi, Trump confirmed that the meeting will take place, signalling a possible easing in trade tensions between the two countries.
Trump, who last week announced a 100 per cent tariff on all Chinese imports, acknowledged in an interview with Fox Business that such a move could not last indefinitely.
“It’s not sustainable,” he said, when asked about the tariff measures both nations have imposed this year. “But that’s what the number is—it could stand, but they forced me to do that.”
He added that he expected things with China to “be fine” after his meeting with Xi.
‘China is always looking for an edge’
“China is always looking for an edge,” Trump said during the interview. “I don’t know what’s going to happen. We’ll see what happens.”
The trade dispute between the two nations has pushed US import taxes on Chinese goods to as high as 145 per cent, sparking concerns of a global economic slowdown.
Although both sides agreed to several 90-day truces, the latest one is set to expire on 10 November unless extended.
‘We have to have a fair deal’
Last week, Trump threatened to impose additional tariffs by 1 November and even considered cancelling the planned meeting with Xi, which is expected to take place on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea later this month.
“I get along great with him,” Trump said of Xi. “I think we’re going to be fine with China, but we have to have a fair deal. It’s got to be fair.”
Impact Shorts
More ShortsWhen asked about the possibility of a trade war with China if a deal isn’t reached, Trump said, “Well, you’re in one now. We have a 100 per cent tariff. If we didn’t have tariffs, we would be exposed as being a nothing.”