Trump Says He Expects To Raise China Tariffs

Trump Says He Expects To Raise China Tariffs

Just days before Chinese and American leaders are set to meet on the sidelines of the G20 summit in Argentina, the Chinese envoy to the USA issued an ominous warning against further escalation of the trade conflict that could potentially break the symbiosis of the two largest world economies, and entirely cripple global trade.

USA crude was up 0.1 per cent at US$51.68 a barrel, while Brent futures rose 0.2 per cent to US$60.60.

"I happen to be a tariff person because I'm a smart person, OK?" he told the Wall Street Journal.

"We're going to make a great deal with China and everybody hopefully will be very happy, including China".

Trump said it was "highly unlikely" he would accept China's request to hold off on the increase.

However, US markets recovered after White House economic adviser Larry Kudlow made some mildly positive comments about the upcoming trade talks.

The rally came after the S&P 500 on Friday recorded its lowest close in six months, down more than 10 per cent from September's peaks, putting it in "correction" territory.

Asked about the agenda for Trump's bilateral meeting with Russia's Putin, Bolton said all issues facing the United States and Russian Federation would be covered. In 2017, China accounted for 61.6% of electronics imports into the U.S., far exceeding South Korea's 4.5%, according to data from trade intelligence tracker PIERS. He declined to say what other USA officials will join Trump in the session.




"Maybe. Maybe. Depends on what the rate is", Mr Trump said, referring to the possibility of tariffs on mobile phones and laptops, according to the Wall Street Journal.

"I am conservatively optimistic that can be done", he added.

'If the United States does not buy Chinese products and US technology is not forthcoming, would that really benefit USA companies?' said Xu Nanping, China's vice minister of Science and technology.

"Donald Trump's renewed tariff threats against China have magnetized investors to the U.S. Dollar", Lukman Otunuga, a research analyst at broker FXTM, said in a note.

Trump's advice to all businesses that manufacture is to "build factories in the United States and to make the product here".

China dominates United States electronics imports.

Twelve of the Ukrainians were brought to a court in Simferopol, Crimea's capital, for a pre-trial hearing in which a judge ordered them held until January 25, pending trial, Russian state news agencies reported.

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