President Trump defends using trade tariffs

Marco Green
June 11, 2019

On Monday, President Trump accused China of seeking to gain a competitive advantage against U.S. producers by devaluing their currency, the yuan, and threatened to slap Beijing with immediate tariffs on $300 billion' worth of Chinese goods if Xi didn't meet him in Osaka on June 28 or 29 during the G20 summit.

"I think he's going, I haven't heard that he's not", the United States president told the channel. I think interesting things will happen.

Fitch Ratings said on Monday any such move would be disruptive to the U.S. technology sector and could hurt some Chinese sectors as well, though it added that it was too early to assess potential credit implications.

"We're in a new kind of cold war with China ... the USA can not back down", Moore said.

While Huawei has denied it would share user secrets with China's ruling Communist Party, Trump is on a mission to persuade U.S. allies to exclude Huawei equipment from next-generation 5G mobile networks.

Tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of having reneged on promises to make structural economic changes during months of trade talks.

But President Trump also used some of the airtime to respond to questions about the growing power of tech companies as well 5G, Huawei and the proposed T-Mobile-Sprint deal. "If the United States is willing to negotiate on an equal footing, our doors are always open". "I think he'll go", Trump told CNBC on Monday. Beijing responded by raising tariffs on $60 billion of USA exports and escalating its anti-American propaganda. "If the USA insists on escalating trade frictions, we will respond firmly and keep it company to the end".

Trump's tariff rattling has spooked global markets and also run into pushback from many in Congress. "We're expected to meet and if we don't that's fine and if we do that's fine". Since President Trump first implemented the tariffs, the communist regime has been battered by economic uncertainty and faltering growth while the USA has enjoyed a level of prosperity not seen for a generation. USA officials have accused Chinese technology companies such as Huawei of stealing trade secrets and threatening cybersecurity - possibly at the behest of the ruling Communist Party.

Trump added: "If we don't have a deal and don't make a deal, we'll be raising the tariffs, putting tariffs on more than - we only tax 35% to 40% of what they said then they had another 60% that'll be taxed".

On May 30, the Chinese government accused the U.S. of "economic terrorism".

His overall aim, the Republican said, is to ensure that China never overtakes the United States as the world's top economy.

But U.S. officials have made it their mission to persuade other governments to avoid working with Huawei, warning that Washington might not share sensitive information with allies if they are using Huawei equipment and networks that the Washington suspects could be compromised.

Other reports by Click Lancashire

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