President Trump intensified pressure on China to strike a trade deal in Washington this week by threatening to more than double tariffs on $200 billion of the Asian nation’s sales to the world’s largest economy.
President Trump, meeting with Chinese Vice Premier Liu He, far right, in Washington in January, threatened Sunday to hike tariffs on $200 billion worth of Chinese goods.
Trump tweeted on Sunday he wasn’t satisfied with the pace of progress and that the duties would increase Friday. He had twice delayed increasing tariffs to 25% from 10% after agreeing to a Dec. 1 truce with President Xi Jinping to give negotiators time to work out a comprehensive agreement.“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate,” Trump said in his tweet.
Two days ago, White House economic adviser Kevin Hassett said the Trump administration was “heartened” to see progress in trade talks with China though some issues still needed to be resolved. Trump later told reporters, “The deal itself is going along pretty well. I would even say very well,” adding that a deal with Beijing could be weeks away.
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