Again accusing China of manipulating its currency, the US billionaire has threatened to impose new customs taxes if the head-to-head planned with Xi in late June on the sidelines of the G20 summit in Osaka did not take place. Blowing hot and cold, as usual in trade negotiations, the unpredictable president was however confident about the holding of the meeting and put forward his excellent relations with the strong man of Beijing, “a incredible guy “, a man” very strong and very intelligent “.
“I think he'll be there, we have to meet, if that's done, it's fine, if it's not done, it's fine too,” he said on CNBC. , referring to the summit that will bring together the world's major economic powers on June 28 and 29 in Japan. Donald Trump has, in stages over the past months, imposed tariffs of 25% on 250 billion Chinese products imported into the United States. And it regularly threatens to extend these punitive tariffs to 300 billion additional products.
Washington wants not only to reduce its huge trade deficit with China, but also to obtain from Beijing a series of commitments on respect for intellectual property, the end of forced technology transfers, or the abandonment of subsidies to state-owned enterprises. . Defending tooth and nail his strategy, the tenant of the White House insisted on the impact of punitive tariffs on the Chinese economy, which he believes should push Beijing to conclude an agreement.
“China is truly decimated with companies leaving the country and settling elsewhere because they do not want to pay tariffs,” he said. “In my opinion, China will conclude an agreement because they will be forced to do so”.
Assuring that China had lost “trillions of billions of dollars,” he ruled that his economy could not catch up with the US economy. “With my policy, they will never catch up with us,” he said, saying the equation would have been completely different if his Democratic rival Hillary Clinton was elected in November 2016. Repeatedly criticized , Donald Trump accused China of dropping its currency to cancel the effect of tariffs.
And he took the opportunity to complain once again that the US central bank (Fed) has raised interest rates too fast and does not listen, while, he said, his Chinese counterpart he dictates his will to his central bank. “Remember that in China, the head of the Fed is President Xi, the Chinese president,” he said. “As the boss of the Fed, he can do what he wants.” According to a recent US Treasury report, China has not manipulated its currency in the last six months.