U.S. President Donald Trump does not expect much progress from trade talks with China this week in Washington, he told Reuters on Monday.
Trump said in an interview that he had “no time frame” for ending the trade dispute with China, which threatens to impose tariffs on virtually all goods traded between the world’s two largest economies.
“I’m like them; I have a long horizon,” he added.
The talks this week come as new U.S. tariffs on $16 billion of Chinese goods take effect at 12:01 a.m. (0401 GMT) on Thursday, along with retaliatory tariffs from Beijing on an equal amount of U.S. goods.
The U.S. Trade Representative’s Office also is holding hearings this week on proposals for tariffs on a further $200 billion of Chinese goods that will start to directly hit consumer products.
Trump said Chinese negotiators would be arriving shortly, adding he did not “anticipate much” from the mid-level discussions.
He said resolving the trade dispute with China will “take time because China’s done too well for too long, and they’ve become spoiled. They dealt with people that, frankly, didn’t know what they were doing, to allow us to get into this position.”
Trump also accused China of manipulating its yuan currency to make up for having to pay tariffs imposed by Washington, while arguing the U.S. central bank should be more accommodating.
The meetings, expected to take place on Wednesday and Thursday in Washington, are the first formal U.S.-China trade talks since June, when U.S. Commerce Secretary Wilbur Ross met Chinese economic adviser Liu He in Beijing but returned with no agreements.
Since then, Washington and Beijing have been locked in escalating rounds of tit-for-tat tariffs, with tariffs on $50 billion in goods by each country expected to be in place by Thursday. Trump has threatened to impose duties on virtually all of the more than $500 billion of Chinese goods exported to the United States.
Trump’s tariffs are part of his administration’s effort to pressure China into making major changes to its economic policies to better protect intellectual property, end its industrial subsidy efforts and open its markets to foreign competition.
Beijing denies U.S. allegations that it systematically forces the unfair transfer of U.S. technology and insists that it adheres to World Trade Organization rules.
The Washington talks will be led by U.S. Treasury Undersecretary David Malpass and Chinese Commerce Vice Minister Wang Shouwen.
Reporting Jeff Mason and Steve Holland; Writing by Peter Henderson and David Lawder; Editing by James Dalgleish and Cynthia Osterman
Trump raked over the coals by WSJ for ‘politically stupid’ racist comments debacle
In a brutally blunt column from the conservative editorial board of the Wall Street Journal, the editors scolded Donald Trump for being "politically stupid" by wading into a dispute between factions within the Democratic Party that has blown up in his face.
Under a headline reading, "Defining Politics Down," the editorial seemed less concerned with Trump's racist attacks and more with the fact that he has made his racism front and center as the country gears up for the 2020 election.
Dear NeverTrumpers: Either help or STFU
Before I offer up a come-to-Jesus moment for the NeverTrumpers, let me say that as many of you know, I’ve defended members of this exiled faction in the past, and continue to stand by the idea that we need to form a coalition to close the loopholes exposed by Donald Trump’s malfeasance as a means of preventing another, perhaps more dangerous monster from sashaying through the Trump-shaped hole in the wall. To be clear: I’m not talking about conceding on policy or platform planks. I’m merely suggesting a detente between voices who all agree that Trump is a menace and his presidency is an existential national crisis.
News flash: Trump’s no racist!
The gap that Donald Trump continually shows us between word and deed is remarkable. He lets words hurt while ignoring the substance of what the words mean.
That public words that various people, from both in and out of government or politics, say about him seem to matter a whole lot more than actual events, scandals or bad governmental behavior reflecting on his presidency. We’re used to it by now, numb really, so, it seems useful to step back and look at the pattern.
Even so, his tweets on Sunday telling four rebellious first-year congresswomen, citizens who are all of color, that they should return to where they came from “to go back and help fix the totally broken and crime infested places from which they came” is an insult that crosses all borders. As it happens, three of the four are American-born, and Rep. Ilhan Omar (D-Mich.) has been a naturalized citizen since age 12.