US President Trump reiterated on Tuesday that if China retaliates against the recent US tariffs and other measures imposed on Chinese products, he will impose tariffs on Chinese imports worth an additional $267 billion.
President Trump spoke to the media at the Oval Office in the White House. (October 9, 2018)
President Trump sat in the Oval Office of the White House and told reporters: “We have a good relationship with China. But, you know, they have taken $500 billion from our country every year for years. We can’t let this happen. Over the years, people sitting in this chair should discuss this issue. You see, over the years, they have to take 2,000, 3,000, 4,000, or even 500 billion dollars a year. We helped rebuild China. If we don’t China is not what they are now. I have no problem, but we will not do it again.”
Trump made the remarks to the media when he shared with the United States Permanent Representative to the United Nations, Ambassador Nikki Haley, at the White House to announce that Haley would resign. He also said that China is not ready to reach a trade agreement.
He said: “Look, China wants to reach an agreement. I said that they are not ready yet. I just said that they are not ready yet. We canceled several meetings because I said that they are not ready to reach an agreement. We cannot be One-way street. It must be two-way. It has been a one-way street for 25 years. We must make it a two-way street. We also want to benefit from it.”
When asked if he was ready to impose new tariffs in response to retaliation from China, Trump said: “Of course, absolutely.” He also said that the current trade imbalance between the United States and China means “they have already retaliated.” “.
“One hundred percent. If they do that, if they retaliate, what does ‘retaliation’ mean? They have already retaliated. They took $500 billion. I think that is the ultimate revenge.”
Last month, Trump imposed tariffs on nearly $200 billion of Chinese imports and warned that if China takes revenge, more tariffs will be imposed. China then responded by adding tariffs on US imports of about $60 billion.
The International Monetary Fund cut its global economic growth expectations for 2018 and 2019 on Tuesday as a result of increased trade wars.
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