President Donald Trump on Friday said he has not agreed to rollbacks of US tariffs sought by China, sparking fresh doubts about when the world’s two largest economies may end a 16-month trade war that has slowed global growth.
He said China wanted to make a deal more than he did, adding that the US tariffs were generating “billions” for US coffers. “I’m very happy right now. We’re taking in billions of dollars,” he said. The farm state of Iowa has been hammered by China’s retaliatory tariffs on US soybeans, pork and other farm products, but has longstanding connections to Chinese President Xi Jinping.newspaper, reacted to Trump on Twitter, writing that markets were not expecting Trump’s statements.
Navarro complained that too many reports relied on anonymous sources and said only Trump and US Trade Representative Robert Lighthizer should be quoted on stories about the China trade negotiations.“For the good of the country, this anonymous sourcing circus must stop. In a haste to scoop their competition, too many reporters are running the very real risk of getting played, getting it wrong, and hurting this country,” Navarro said.
The “phase one” trade deal would largely address farm purchases, access to China’s financial services market and improve copyright and trademark protections in China. More difficult technology transfer issues, subsidies and cybersecurity rules would be left to future negotiations.
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