Trump Needs China to Open the Market for US or Faces with Higher Tariffs
Donald Trump would not bend for China and said in the interview with Wall Street Journal that he would go ahead with the increasing tariffs on $200 billion worth of Chinese.
The current tariffs that the US imposes on import Chinese goods are 10%, while the increment for another 15% will be imposed on January 1, 2019. The “talk” between the US President Donald Trump and President Xi Jinping later this week at G20 forum in Argentina would probably be the last chance for the two countries to come up with more peaceful terms.
However, days before the forum to take place, Trump said on Monday, November 26, 2018 in the interview with Wall Street Journal that he expected to move ahead with raising tariffs on $200 billion worth of Chinese imports to 25%. Trump also said that it was “highly unlikely” he would accept the request from China to delay the increment.
“The only deal would be China has to open up their country to competition from the United States,” Trump said to WSJ. “As far as other countries are concerned, that’s up to them.”
The next round of tariffs could also be placed on laptops and Apple Inc’s iPhones imported from China, which is part of that $267 billion lists of goods not yet hit by tariffs. Apple’s shares tumbled after trading hour by 2.11% after the interview from WSJ was published.
