WHO WILL BACK down in the worsening tariff war between the United States and China?
Nobody knows yet, but the US stepped up its tariff offensive against China with an announcement that Washington will impose 104 percent tariffs on Chinese imports beginning Thursday this week.
The response of the US imposing 104 percent tariffs on Chinese imports was in retaliation for Beijing’s 34 percent tariffs on US imports.
Earlier, US President Donald Trump tariffs on all products from China entering the American mainland.
“There will be 104 percent tariffs going into effect on China tonight at midnight,” spokeswoman Karoline Leavitt said in a media briefing at the White House on Wednesday.
“It was a mistake for China to retaliate,” she added.
Leavitt said that in the face of the imposition of the tariffs on China, it is time for Beijing “to make a deal” with Washington.
[I]f Beijing is interested on making a deal, (Trump) would be “incredibly gracious”… But he’s going to do what’s best for the American people.…The Chinese want to make a deal. They just don’t know how to do it.
MAKING A DEAL
Trump said that if Beijing is interested on making a deal, he would be “incredibly gracious.”
“But he’s (Trump) going to do what’s best for the American people. … The Chinese want to make a deal. They just don’t know how to do it,” Leavitt said.
Trump ordered 10 percent minimum tariff on all imports and higher reciprocal tariffs on the trading partners of the US, which counts China and the European Union.
Leavitt added that the US is waiting for its trading partners to start making deals with Washington.
“He directed them to have tailor-made trade deals with each and every country that calls up this administration to strike a deal,” she added.
“As the president said, the reciprocal tariffs, which will continue to go in effect as these deals are negotiated and ongoing, will generate trillions of dollars in revenue to the United States,” she said.
