Trump Expects that China-US Trade Will not Make Much Progress This Week
US President Trump told Reuters on Monday that it is expected that little progress will be made in trade talks with China this week in Washington.
On August 20, 2018, in Washington, USA, US President Trump accepted an Interview at the Oval Office of the White House.
Trump said in an interview that he did not end the "time frame" of trade disputes with China. This dispute has the potential to impose tariffs on all goods traded between the two major economies.
"I am like them, I also have a long-term vision."
The US plan that imposing tariffs on US$16 billion in Chinese goods will take effect on Thursday at 0401 GMT, and China will impose retaliatory tariffs on the same amount of US goods.
The US Trade Representative Office will also hold a hearing this week on a proposal to impose tariffs on another $200 billion in Chinese imports. If tariffs are imposed on these goods, they will directly hit consumer products.
Trump said that the Chinese negotiators will arrive soon and said that he "has little expectation" for this medium-level consultation.
He said that resolving trade disputes with China will "take time, because China has gained too much in too long, they are spoiled. The people they deal with, frankly, don't know what they are doing, It brings us into such a situation."
Trump also accused China of manipulating the renminbi exchange rate to make up for the tariffs imposed by the US government. He also said that the Fed’s interest rate policy should be more lenient.
The talks, which are expected to be held in Washington on Wednesday and Thursday, are the first official US-China trade negotiations since June. In June, US Commercial Secretary Ross and Chinese Vice Premier Liu He met in Beijing, but the two sides did not reach any agreement.
Since then, Washington and Beijing have been taking tariff, and it is expected that the tariffs on both sides will reach $50 billion on Thursday. Trump threatened to impose tariffs on almost all of the more than $500 billion worth of Chinese goods exported to the United States.
This week's Washington talks will be hosted by US Deputy Treasury Secretary Malpas and Chinese Vice Minister of Commerce Wang Shouwen.
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