Trump to Xi: 'China will be hurt very badly if you don't make a deal'
Story Code : 794132
"I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries," Trump said.
"Too expensive to buy in China. You had a great deal, almost completed, & you backed out!” he said.
The Washington-Beijing trade dispute escalated on Friday, when the US increased tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent after Trump accused Beijing of “breaking the deal” by reneging on earlier commitments made during months of talks.
Trump also ordered US Trade Representative Robert Lighthizer to begin imposing tariffs on all remaining imports from China, a move that would affect about an additional $300 billion worth of goods.
Beijing has vowed to respond to the latest US tariffs, but has announced no details yet.
Speaking earlier on Monday, Chinese Foreign Ministry spokesman Geng Shuan said Beijing will never surrender to external pressure.
Shuang told reporters that the country’s leadership was well endowed to defend its nation against any pressure by foreigners.
“Raising tariffs will not solve any problems. China will never surrender to external pressure. We have the determination and the ability to safeguard our legitimate rights and interests,” the Chinese official said.
“Wait and see” what Beijing’s response will be, Geng told reporters, using a Trump catch phrase.
Trump on Monday also warned China against retaliation and defended the tariffs.
"Their is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree," Trump tweeted, although it was not immediately clear what evidence he was citing.
"Also, the Tariffs can be completely avoided if you by from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia," he said.
"..There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!" he added.
The tweets come two days after Trump said that China was “beaten so badly” in recent months during which Washington and Beijing had held trade negotiations that now it wanted to wait until after the 2020 election, hoping for a Democrat to become the president.
He warned that a trade deal would be “much worse” for China if he was elected for the White House a second time.