Trump to China: Sign Deal or Face ‘Far Worse’ Terms

Date: 12 May 2019 - 21:15

News ID: ۶۵۸۷۵

WASHINGTON (Dispatches) -- President Donald Trump has warned China that it should either sign a trade deal with the United States now or face a "far worse" agreement in the future.
Trump made the remarks on Twitter Saturday, a day after he reportedly said that China had one month to seal a trade deal or face tariffs on all its exports to the United States.
"I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year,” Trump tweeted.
He warned that a trade deal would be "much worse” for China if he was elected for the White House a second time.
"The only problem is that they know I am going to win (best economy & employment numbers in U.S. history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!” he boasted.
Washington is pressing Beijing to reduce the trade imbalance between the two countries and implement structural changes in its practices concerning intellectual property and the transfer of U.S. technology to Chinese firms.
China, however, says such reforms could only favor the U.S. and lead to more protectionism in global trade.
Trump increased tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent on Friday, as the two sides pursue last-ditch talks to try salvaging a trade deal.
U.S. Customs and Border Protection imposed the new 25 percent duty on affected U.S.-bound cargoes leaving China on Friday, involving more than 5,700 product categories.
The Trump administration had imposed 25 percent tariffs on a separate category of Chinese machinery and technology goods worth $50 billion.
While Trump portrays the tariffs as punishing China, experts believe American companies and consumers would be bearing the costs.
Even without the trade war, relations between Washington and Beijing have continued to deteriorate, with an uptick in tensions between the two countries over the South China Sea, Taiwan, human rights and China’s plan to re-create the old Silk Road, called the Belt and Road Initiative.