President Donald Trump on Tuesday labeled the escalating trade war with China"a little squabble" and again accused Beijing of scuttling an agreement when it was near completion.
Last week, Trump moved to more than double the punitive duties on hundreds of billions of dollars in Chinese merchandise and the latest round of US-China trade negotiations ended without a deal. "We had a deal that was very close and then they broke it. More than renegotiate, they really broke it. We can't have that happen."Trump launched the trade war last year to extract profound economic reforms from Beijing and reduce the US trade deficit.
Since last year, the trade war has gutted US farm exports to China and weighed on the manufacturing sectors in both countries. "This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been 'forgotten' for many years. Their time is now!" Trump tweeted.
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