Trump says China ‘will take down its trade barriers’

April 9, 2018
Threat of tariffs is not merely a negotiating tactic with world’s No 2 economy

President Donald Trump said China will relax its trade restrictions in response to US pressure “because it’s the right thing to do,” as the world’s largest economies teeter on the brink of a trade war that’s unsettled global financial markets and sent the US stock market reeling.

“China will take down its Trade Barriers because it is the right thing to do,” Trump said on Twitter early Sunday. “Taxes will become reciprocal & a deal will be made on Intellectual Property.”

The president commented ahead of several appearances by top members of his economic team, who defended the US threats to impose tariffs on Chinese imports and framed the moves as part of a longer-term strategy for growth.

“I think it’s going to generate very positive results which will grow” the economies of the US, China, and the world, Larry Kudlow, Trump’s top economic adviser, said on CNN’s ‘State of the Union’.

Kudlow said while he would support imposing tariffs if negotiations with China fail, nothing has happened yet.

In a separate interview on ‘Fox News Sunday’, Kudlow acknowledged “jitters” but insisted “we’re not gonna to end up in a trade war.”

Still, White House trade adviser Peter Navarro said the threat of tariffs is not merely a negotiating tactic with China.

“We’re moving forward in a measured way,” he said on NBC’s ‘Meet the Press’.

Navarro said Friday that high-level talks will take place before any tariffs will take effect, led by Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.

gulfnews