Donald Trump slams China over trade talks: ‘You had a great deal ... & you backed out!’
President Trump said Monday that China “will be hurt very badly” by the new round of high tariffs he imposed on Chinese goods this week.
“I say openly to President Xi all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, you backed out,” the presidenttweeted.
The president also explained how his new tariffs would work, whichraised tariffs from 10% to 25% on $200 billion of Chinese imports, escalating a trade war that appeared to be subsiding as negotiators worked toward a deal.
“Their [sic] is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree,” hetweeted.
“Also, the Tariffs can be...completely avoided if you by [sic] from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly,” Mr. Trump said.
“There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse,” he said.
China retaliated against Mr. Trump’s tariffs and will be raising tariffs to 25 percent on 60 billion dollars worth of U.S. goods, according to CNN.
S.A. Miller and Gabriella Muoz contributed to this article.