Trump Says China Not Ready to Reach Deal on Trade

October 9, 2018 Share Print 0

President Donald Trump on Tuesday repeated his threat to impose tariffs on $267 billion worth of additional Chinese imports if China retaliates for the recent levies and other measures the United States has taken in the countries’ escalating trade war.

Trump, speaking to reporters in the Oval Office, also said China is not ready to reach a deal on trade.

“China wants to make a deal, and I say they’re not ready yet,” Trump said. “I just say they’re not ready yet. And we’ve canceled a couple of meetings because I say they’re not ready to make a deal.”

When asked whether he was ready to levy new taxes in case of retaliation from China, Trump said, “sure, absolutely.”

He added that the current U.S. trade imbalance with China means “they’ve already retaliated.”

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.