President Trump defends using trade tariffs

Mexico's peso rallied against the dollar in response to news that the US had dropped threatened tariffs on imports from the country

Last week, Trump said he would decide after G20, the meeting of the leaders of the world's largest economies, whether to carry out a threat to impose tariffs on an additional $300 billion in Chinese goods.

"I think he's going, I haven't heard that he's not", the U.S. president told the channel. I think he's going.

Fitch Ratings said on Monday any such move would be disruptive to the United States technology sector and could hurt some Chinese sectors as well, though it added that it was too early to assess potential credit implications.

He said that he wants China to do well, but that "I don't want them to do as well as us".

US Commerce Secretary Wilbur Ross on Tuesday downplayed this month's summit in Japan, saying it would not be "a place where anyone makes a definitive deal".

In a wide-ranging interview with CNBC, Trump also said disputes over Chinese tech giant Huawei Technologies could be addressed as part of any USA trade deal with China.

Moore predicted a deal with China in the next three to four months and that, if it happens, President Trump will be "home free" with a soaring USA economy and stock market as a result. "If the U.S.is ready to have equal consultations, our door is wide open". Beijing retaliated with tariff hikes on a revised list of $60bn in United States goods. While the stimulus appears to have succeeded in temporarily arresting the freefall, China's authoritarian government has a habit of manipulating official economic data, and experts say there are signs that recent figures have been artificially inflated as companies "front-load" exports in anticipation of new tariffs. "I think he'll go", Trump told CNBC on Monday.

"We're expected to meet and if we do that's fine, and if we don't - look, from our standpoint the best deal we can have is 25% on $600bn".

"In the end of the day Trump will win", Moore said, adding that China would love Joe Biden as President of the United States.

Trump said Brilliant is not protecting "our country" but companies who are members of the Chamber. US officials have accused Chinese technology companies such as Huawei of stealing trade secrets and threatening cybersecurity - possibly at the behest of the ruling Communist Party.

Washington last month put Huawei on a blacklist that effectively bars USA firms from selling to the company without government approval.

His overall aim, the Republican said, is to ensure that China never overtakes the United States as the world's top economy.

"China's going to make a deal because they're going to have to make a deal". Now "they'll never catch us".

"Had a Democrat gotten in., China would have caught us", he said.

Related:

Comments

Latest news

Bangladesh-Sri Lanka washout sets World Cup record
For Bangladesh , the situation is dire as they are in the bottom half of the points table with just a solitary win in four outings.

Ubisoft Launches $14.99/month Game Subscription Service for PC, Google Stadia
During its official conference today , Ubisoft announced its new game subscription service, which will be known as Uplay +. Ubisoft has also announced that a pre-alpha E3 2019 demo is now available for download .

Disney Releases The First Official Trailer For "Frozen 2"
The sequel to the 2013 classic opens on November 22. "The answer is calling her and threatening her kingdom", the synopsis reads. While Elsa doesn't know where her powers came from, she does know that she can control them and keep those she loves safe.

Waze Gets Google Assistant
Google will be able to do numerous same things that it can do in Maps, including checking the traffic and changing your route. For now, it remains unclear if users of Google Maps in other countries are also getting the test "off-route" feature or not.

Human rights group locates North Korean execution sites
Fifield says Kim Jong Nam usually met his handlers in Singapore and Malaysia, citing a source with knowledge of the intelligence. They insisted they were tricked by North Korean agents into carrying out the hit and had thought it was a reality TV show prank.

Other news