Trump Introduces “Plan B” to Take Advantage for Billions of Dollars if Trade Talk Fails
Trump threatens China on increasing tariffs on all remaining Chinese imports worth $300 billion if the trade talk at G20 summit fails.
The upcoming G20 summit is very crucial not only to the U.S. and China, but global financial markets is also on the line.
The U.S. President Donald Trump and the Chinese President Xi Jinping will meet in an extended meeting at the G20 summit to discuss and possibly resolve the dispute between the two countries which has escalated since May 10 after Trump increased import tariffs from 10% to 25% worth $200 billion of Chinese products.
Trump said substantial additional U.S. tariffs would be placed on goods from China if there’s no progress on a trade deal after his planned meeting with Chinese counterpart Xi Jinping at the G-20 Summit in Japan.
“My Plan B with China is to take in billions and billions of dollars a month and we’ll do less and less business with them,” Trump said Wednesday, implying that an additional U.S. tariffs would be imposed on the remaining of Chinese goods worth $300 billion if there is no progress on a trade deal after the meeting with Xi. The White House announced his meeting with Xi would take place at 11:30 a.m. on Saturday in Osaka.
