Trump Threatens China with $325 Billion in Tariffs if Xi Backs Out G20 Meeting
President warns of consequences if Xi Jinping backs out of the G20 in Japan
President Donald Trump has threatened to pull the trigger on $325 billion in tariffs on Chinese goods if Xi Jinping backs out of the G20 in Japan this month.
Trump said he would put tariffs on Beijing immediately if the Chinese leader canceled the meeting.
"Yes, it would. And I think he will go, and I think we’re scheduled to have a meeting. I think he’ll go, and I have a great relationship with him," the president said.
"He's actually an incredible guy, a great man. He's very strong and very smart, but he's for China, and I am for the United States."
Trump admitted he was not aware of the reporting, which could mean Xi could skip the Group of 20 meetings altogether.
"I would be surprised if he didn't go, I think he’s going, I haven’t heard that he’s not. We’re expected to meet,' he repeated. And if we do, that's fine, and if we don't that’s fine."
Trump implied he might walk away from a deal that raked in less money than the full slate of tariffs he's threatened on China.
"Look, from our standpoint, the best deal we can have is 25% on $600 billion, OK? And then those companies are going to move into other locations, and then there won't be a tariff."
China is subsidizing its product in order that it can continue to be sold in the USA. Many firms are leaving China for other countries, including the United States, in order to avoid paying the Tariffs. No visible increase in costs or inflation, but U.S. is taking Billions!— Donald J. Trump (@realDonaldTrump) June 3, 2019
The House is holding a hearing on “Presidential Obstruction” this week— Charlie Kirk (@charliekirk11) June 10, 2019
Here’s what the Democrat House is NOT holding hearings on:
The crisis at our southern border
Our nations crumbling infrastructure
Foreign policy threats posed by China
Passing the USMCA
Do your job!
Let's dispel #1 myth of tariffs - that they are passed on to consumers.— Bill Mitchell (@mitchellvii) June 10, 2019
Just because Trump puts a 25% tariff on you doesn't mean the laws of supply and demand no longer exist. If China raises their prices 25%, no one is gonna buy their junk. That's a 100% tariff on themselves.
Last week, Trump said he'd hold off putting tariffs on the remaining Chinese of goods until his meeting is scheduled with Xi.
Trump said Thursday in France that he's holding off on $325 billion in new tariffs because he wants to speak to Xi in person.
"I make that decision in the next two weeks after the G20. I will be meeting with President Xi, and we'll see what happens,' he declared. 'We're probably planning it sometime after G20."
In May, the Trump administration hit China with $200 billion in tariffs on Chinese goods ahead of Friday trade talks.
The Trump administration moved forward with increased tariffs on Friday after a round of trade talks between the United States and China on Thursday didn't produce an agreement.
“This evening, Ambassador Lightizer and Secretary Mnuchin met with President Trump to discuss the ongoing trade negotiations with China," White House deputy press secretary Judd Deere announced in a statement.
“The Ambassador and Secretary then had a working dinner with Vice Premier Liu He, and agreed to continue discussions tomorrow morning at USTR [U.S. Trade Representative Robert Lighthizer]."