President Donald Trump’s latest decision to put more tariffs on Chinese goods, this week to heat up the trade war with Beijing came after aides thought that they had talked him out of it weeks ago, according to the two people close to discussions revealed it.
Trump’s annoyance with China finally boiled over this weekend after the Treasury Secretary Stephen Mnuchin and U.S. Trade Representative Robert Lighthizer returned from the trade talks in Shanghai and reported the Chinese officials offered no any new proposals for wind-up of an impasse that’s stayed since May, according to the people.
On Twitter, Trump’s announcement on Thursday that he will impose a 10% tariff on roughly $300 billion in the Chinese imports starting on September 1, showed a quick reaction from China on Friday, further jeopardizing the chances of progress in talks. United States is trying to get the China to make commitments to restraint in policies that it says amount to widespread theft of US technology and intellectual property.
“China will not accept any form of pressure, intimidation or deception,” Chinese Foreign Ministry spokesperson Hua Chunying said at a press conference Friday.
Ministry of Commerce of China released a statement that said the Beijing would impose the countermeasures.
“The U.S. has to bear all the consequences,” the statement said. “China believes there will be no winners of this trade war and does not want to fight. But we are not afraid to fight and will fight if necessary.”
A senior economic adviser Larry Kudlow defended Trump’s decision on Friday.
“In terms of the progress of the deal, the president is not satisfied,” he said to reporters at the White House.
Kudlow said that there are still plans to meet with Chinese for another face to face meeting in Washington.
“There’s certainly a month here before the tariffs go into place. A lot of things can happen in a month. A lot of good things can happen in a month,” Kudlow told Bloomberg Television on Friday. He added that agriculture purchases by China “would certainly help the story.”