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Trump says tariffs making companies leave China, a deal can't be '50-50'

Published 05/20/2019, 12:12 AM
Updated 05/20/2019, 12:12 AM
© Reuters. Containers are seen at a port in Huaian

By David Lawder and Nandita Bose

WASHINGTON (Reuters) - U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a "50-50" deal.

In an interview with Fox News Channel recorded last week and aired on Sunday night, Trump said that the United States and China "had a very strong deal, we had a good deal, and they changed it. And I said that's OK, we're going to tariff their products."

No further trade talks between top Chinese and U.S. trade negotiators have been scheduled since the last round ended on May 10 - the same day Trump raised the tariff rate on $200 billion worth of Chinese products from 10 percent.

Trump took the step after China soured the negotiations by seeking major changes to a deal that U.S. officials said had been largely agreed.

Since then, China has struck a sterner tone in its rhetoric, suggesting that a resumption of talks aimed at ending the 10-month trade war between the world's two largest economies was unlikely to happen soon.

Trump, who said the interview with Fox News host Steve Hilton had taken place two days after he raised the tariffs, said he would be happy to simply keep tariffs on Chinese products, because the United States would be taking in $100 billion or more in tariffs.

But he added that he believed that China would eventually make a deal with the United States "because they're getting killed with the tariffs, China' getting totally killed."

But he said that he had told Chinese President Xi Jinping before the most recent rounds of talks that any deal could not be "50-50" between the two countries and had to be more in favor of the United States because of past trade practices by China.

Trump also said that Democratic presidential candidate and former U.S. vice president Joe Biden should be investigated over a conservative author's allegation that Biden's son Hunter Biden took advantage of his father's position to sign a lucrative business deal with state-controlled Bank of China. The allegation was made in Peter Schweizer's 2018 book "Secret Empires."

© Reuters. Containers are seen at a port in Huaian

Asked if this should be investigated, Trump said: "100 percent. It’s a disgrace and then (Joe Biden) says China’s not a competitor of ours. China is a massive competitor of ours. They want to take over the world."

Latest comments

Trump is done...he ain't winning next time. No one likes him.
the next US China trade war in 2024 will start at the Technology issue....China is first country who making replica every big brands and copying technologies..it's mean thief the technology and make it replica or first copy that's unfair businesses doing in China. and China smuggle millions of contains of replica or copying of brands..we can say that China Government are 200% involved in theft of USA Europeans technologies...With in 5 years China will go his actual past position
you will see in 2020 the announcements of USA and European companies leave their factories and Businesses from China...Apple is a first sign of this deal...high tariff main aims that all Americans companies come back home country USA
Investigate Joe Biden
We can not avoid trade war till trump fall.
Donnie is carelessly up messing up with products from nations including China, Europe, Canada & Japan with ridiculous national security threat label. Arrogantly behaving as if the world has to depend on US forever. This type of arrogant behavior will push nations away from US government & businesses. No nation no matter how great can go it alone in the long run. As the proverbs goes, "pride goeth before destruction".
China is 1/3 the USA economy
"Shark Tank" , when you walk out of a deal like China did, don't expect it to be the same deal when u return to the room. Now it'll cost them more
wah, like youve already known the outcome, excellent girl
Some US business may move to Canada to evade the tariffs maybe? It might not be 50-50 for both counties.
I thought they move to US, instead of move Vietnam and other countries.
The important thing is that they relocate to America or countries who are our friends and partners.
They locate to other places that is not an authoritarian country, countries that respect IP rights and does not have a predatory trade policy
do they move to the US?
Why not read the article?
because I thought some moved to the US as promised. just double checking
Game over Jack
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