Washington: US President Donald Trump on Tuesday warned China over delaying trade talks, saying the deal would be even tougher if he was re-elected next year. The United States and China are locked in a trade war since Trump imposed heavy tariffs on imported steel and aluminium items in March last year. In response, China imposed tit-for-tat tariffs on billions of dollars worth of American imports.
Trump said China would prefer another candidate to win the White House next year. "We are doing very well in our negotiations with China. While I am sure they would love to be dealing with a new administration so they could continue their practice of 'ripoff USA' (USD 600 B/year), 16 months plus is a long time to be hemorrhaging jobs and companies on a long-shot....," Trump said in a tweet on Tuesday.
Trump wants to reduce the massive and unsustainable trade deficit with China. He also wants China to stop bullying American companies and theft of US intellectual properties. In the latest escalation of the trade war with China, the Trump administration this month slapped a 15 per cent tariff on USD 112 billion worth of Chinese goods.
"Think what happens to China when I win. Deal would get much tougher! In the meantime, China's Supply Chain will crumble and businesses, jobs and money will be gone!" Trump said in a warning to China.
Trump has also accused China of trying to interfere in American presidential elections and campaigning against him. In recent months, he has alleged that China is betting on his opponents from the Democratic party winning the 2020 presidential poll. China has denied these allegations.
In another tweet, he refused to join hands with the European Union and other trading partners alleging that they are also unfair. "For all of the 'geniuses' out there, many who have been in other administrations and 'taken to the cleaners' by China, that want me to get together with the EU and others to go after China trade practices remember, the EU and all treat us very unfairly on trade also. Will change! he said.
"Germany, and so many other countries, have negative interest rates, 'they get paid for loaning money', and our Federal Reserve fails to act! Remember, these are also our weak currency competitors!" he wrote.
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