US President Donald Trump said he would prefer not to have to impose tariffs on China, his latest dovish remark toward the world’s second-biggest economy even as he continues to threaten sweeping action.
Asked if he could stop the Chinese president from taking Taiwan and reach a trade agreement, Trump told Fox News host Sean Hannity that the US had a “very big power over China, and that’s tariffs, and they don’t want them.”
“And I’d rather not have to use it. But it’s a tremendous power over China,” he said in the interview that aired on Thursday.
Photo: AFP
Trump has wielded tariffs as a frequent threat against friends and adversaries, while promising voters that the additional revenue would help fund his domestic priorities.
On his second day in office, he threatened to put 10 percent tariffs on China as soon as Saturday next week for allowing fentanyl to “pour” into the US.
Markets have taken it as a positive sign that Trump stopped short of imposing tariffs on China in his first days in office, and his recent threats were softer than those issued last year. During his presidential campaign, the Republican floated additional levies on China of about 60 percent.
The yuan extended gains and rose 0.6 percent in both onshore and offshore markets after Trump’s latest comments. Chinese stocks also extended gains, with the benchmark CSI 300 Index ending the day up 0.8 percent.
In Beijing, Chinese Ministry of Foreign Affairs spokeswoman Mao Ning (毛寧) yesterday said there were “huge common interests” between the US and China.
“The two sides should step up dialogue and consultation,” she said at a regular press briefing.
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