Trump: China needs to reach a trade deal more than he does
WASHINGTON (AP) — President Donald Trump says he’s under little pressure to reach a trade deal with China when he meets late this week with President Xi Jinping and is prepared to impose further tariffs on Chinese imports.
“The Chinese economy’s going down the tubes,” Trump says in an interview with Fox Business Network. “They want to make a deal more than I do.”
The president has threatened to extend tariffs to an additional $300 billion in Chinese imports — on top of the $250 billion in goods he’s already taxed. He says the new tariffs might start at 10%. Earlier, the administration had said additional tariffs might reach 25%.
The two countries are sparring over the Trump administration’s allegations that Beijing steals technology and coerces foreign companies into handing over trade secrets.