US President Donald Trump on Wednesday suggested that a trade deal with China was “possible” — a key target in the US leader’s tariffs policy.
The US in 2020 had already agreed to “a great trade deal with China” and a new deal was “possible,” Trump said.
Trump said he expected Chinese President Xi Jinping (習近平) to visit the US, without giving a timeline for his trip.
Photo: AFP
Trump also said that he was talking to China about TikTok, as the US seeks to broker a sale of the popular app owned by Chinese firm ByteDance Ltd (字節跳動).
Trump last week said that he had spoken to Xi since taking office, but did not offer details on the topics of that conversation.
Asked about the comments, the Chinese Ministry of Foreign Affairs yesterday said the two nations “should resolve their concerns through dialogue and consultation based on equality and mutual respect.”
“Trade and tariff wars have no winners and only serve to damage the interests of people all over the world,” Chinese Ministry of Foreign Affairs spokesman Guo Jiakun (郭嘉昆) said at a news conference.
At a separate news conference, the Chinese Ministry of Commerce said Beijing “urges the US side not to wield the big stick of tariffs at every turn, using tariffs as a tool to engage in coercion all around.”
China is the nation with the largest trade surplus with the US in goods — US$295.4 billion last year — the Bureau of Economic Analysis said, which reports to the US Department of Commerce.
Trump on Wednesday also told reporters aboard Air Force One that his administration was considering lumber tariffs of “maybe 25 percent” in the coming months. He did not provide further details.
One month into his second term in office, Trump has threatened to impose 25 percent tariffs on all imported vehicles, and similar or higher duties on pharmaceuticals and semiconductors, as he turns up the heat on some of the biggest US trading partners.
Experts have warned it is often Americans who pay the tariffs on US imports — not the foreign exporters.
Japanese Minister of Economy, Trade and Industry Yoji Muto is arranging a visit to the US in the coming weeks to further push for exemptions, Japanese media reported yesterday.
Muto is expected to meet US officials, including US Secretary of Commerce Howard Lutnick, before March 12, when the 25 percent tariffs on steel and aluminum imports are set to come into effect, Kyodo News said.
Meanwhile, EU Commissioner for Trade and Economic Security Maros Sefcovic on Wednesday said that the bloc would respond “firmly and swiftly” to protect its interests if Washington imposes tariffs on goods from the EU.
However, Sefcovic signaled the EU’s willingness for dealmaking, such as the possibility of reducing or eliminating tariffs on vehicles and other products.
“If we are going to talk about lowering the tariffs, even eliminating the tariffs, let’s say for industrial products, this would be something which we are ready to discuss,” Sefcovic said.
Additional reporting by Reuters
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
A TAIWAN DEAL: TSMC is in early talks to fully operate Intel’s US semiconductor factories in a deal first raised by Trump officials, but Intel’s interest is uncertain Broadcom Inc has had informal talks with its advisers about making a bid for Intel Corp’s chip-design and marketing business, the Wall Street Journal reported, citing people familiar with the matter. Nothing has been submitted to Intel and Broadcom could decide not to pursue a deal, according to the Journal. Bloomberg News earlier reported that Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is in early talks for a controlling stake in Intel’s factories at the request of officials at US President Donald Trump’s administration, as the president looks to boost US manufacturing and maintain the country’s leadership in critical technologies. Trump officials raised the
From George Clooney to LeBron James, celebrities in the US have cashed in on tequila’s soaring popularity, but in Mexico, producers of the agave plant used to make the country’s most famous liquor are nursing a nasty hangover. Instead of bringing a long period of prosperity for farmers of the spiky succulent, the tequila boom has created a supply glut that sent agave prices slumping. Mexican tequila exports surged from 224 million liters in 2018 to a record 402 million last year, according to the Tequila Regulatory Council, which oversees qualification for the internationally recognized denomination of origin label. The US, Germany, Spain,
RSS