George Conway Mocks Trump's ‘Easy’ Suggestion For Avoiding Tariffs on China

Trump raises tariffs on $200 billion of Chinese goods, prompting Chinese warning

The U.S. gave its bottom line, saying Beijing had three to four weeks more to reach an agreement before the Trump administration enacts additional tariffs on $325 billion of Chinese imports not now covered by punitive duties, according to two people familiar with the talks.

Both nations are engaged in commercial combat over China's aggressive push to set up Chinese firms because world leaders in cutting-edge areas including robotics and electrical vehicles.

"China has made it clear to call for the elimination of all additional tariffs to resume normal bilateral trade", the People's Daily said.

In response, China announced that it would come up with retaliatory measures.

The new increase applies to an even greater value of goods put at about United States dollars 300 billion.

"Trump tweeted Friday that the improved tariffs will deliver" FAR MORE wealth" to the United States, though a study by the Federal Reserve Bank of NY and Columbia and Princeton universities states the load of tariffs falls on US consumers and companies that buy imports. "Would be wise for them to act now, but love collecting BIG TARIFFS!"

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Trump claimed China was "beaten so badly" in recent trade negotiations that Beijing wanted to wait until after the 2020 election in the hope a Democrat would win the White House and offer them a better deal.

In a statement Friday, U.S. Trade Representative Robert Lighthizer revealed the President had ordered him to begin the process of raising tariffs on essentially all remaining imports from China.

He said tariffs will bring in "far more" wealth to the U.S. than even a phenomenal deal of the traditional kind.

Chinese Vice Premier Liu He meanwhile said the US had agreed to hold more trade talks in Beijing, adding that "negotiations have not broken down".

The price of copper managed to trade higher, despite simmering trade tensions between the world's two largest economies erupting into all-out war. To date, the China hasn't retaliated against the United States for the tariffs. "It's very simple!" the president tweeted.

"The most crucial issues are confidence and expectations", he said, "as long as we in our hearts have confidence, we will not be afraid of any difficulties".

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In a transcript of the press interview published on the website of Phoenix Television, a Hong Kong-based broadcaster, Chinese Vice President Liu said there were several issues on which the two sides still disagreed. "I will use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent" with existing trade laws, Trump said.

He added that talks would continue in Beijing, but gave no details.

China strongly opposes the latest USA tariff hike, and must respond to that, Liu told reporters on Saturday.

China imports almost half the world's copper and the country's economic growth had been slowing well before the trade dispute began to impact the outlook for industrial metals.

Andrew Nathan, a China specialist at Columbia University, said the Chinese would be perfectly willing to buy more American products and put a dent in America's trade deficit with China, a record $379 billion previous year. The Trump administration was expected to make a decision on the findings of a probe into the national security risks of European auto imports by May 18. After Xi took office, Beijing announced an initiative called Made in China 2025 created to make Chinese companies world leaders in advanced fields like robotics and artificial intelligence.

"For the Chinese, the bottom line is, they can accept no effective limitation on their race to the technological summit", Nathan said.

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