Muslim Times(Web Desk) – President Donald Trump says the United States may make a trade deal with China to end the trade war between Washington and Beijing, after imposing new tariffs on nearly $200 billion Chinese imports.
“We’re having a tremendous impact on China. We’re doing a very good job with China,” Trump said on Tuesday while speaking to reporters in the White House in Washington, DC.
Trump then reiterated his threat to add tariffs to $267 billion of Chinese goods if Bejining retaliates.
“China wants to come over and talk. And we are always open to talking. But we have to do something,” he added.
China hit back on Tuesday with levies on about $60 billion worth of US goods in retaliation for new US tariffs.
However, China has reduced the volume of tariffs that it will collect on the products. The Finance Ministry said on its website that the tariff rates will be levied at 5 and 10 percent, instead of the previously proposed rates of 5, 10, 20 and 25 percent.
Earlier on Tuesday, Trump accused China of seeking to influence upcoming American elections by targeting his political support base in the escalating trade war between the two countries.
“China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me,” he tweeted.
On Monday, Trump targeted another $200 billion in Chinese imports with tariffs starting next week.
The new tariffs, part of the Trump administration’s growing trade war with China, will be applied to more than 1,000 imported Chinese products, the Washington Post reported Sunday, citing two people briefed on the decision.
The tariffs could reach 25 percent for some products although Trump has ordered his team to start with a 10 percent increase.
If true, Trump’s import penalties would go on to include over half of America’s roughly $500 billion imports from China.
Washington recently imposed tariffs on $50 billion worth of imports from China, mostly equipment and material used by manufacturers.
Trump said earlier this month that he was ready to put tariffs on virtually all Chinese imports if Beijing did not back down and took steps to reduce its $335 billion bilateral trade surplus with the US.