21.04.2024

China underestimates US President’s determination

The White House’s chief adviser warned China not to underestimate the determination of U.S. President Donald Trump in the trade battle between the two largest economies in the world amid Beijing’s threats to impose reciprocal tariffs worth $ 60 billion on US goods, Reuters reports.

“They better not underestimate the president,” Larry Cadlow said in an interview with Fox Business Network. “He will be tough.”

China previously stated that it is ready to introduce additional tariffs on 5207 goods imported from the United States, from liquefied natural gas to some aircraft.

This move was triggered by a threat from Washington earlier this week to raise tariffs on Chinese goods worth $ 200 billion to 25% from 10%.

Cadlow, head of the White House National Economic Council, said China is becoming increasingly isolated in the trade arena, and Washington is heading for trade deals with the European Union and Mexico.

“We are gathering together with the European Union to come to an agreement with it, so we will have a united front against China, and I think most of our trading team will tell you that we are getting close with Mexico,” he said. “China is increasingly isolated with its weak economy.”

Last week, the United States closed an unexpected trade deal, according to which Washington agreed not to introduce new tariffs on imports from the EU, warning of a possible 25% tax on car imports, which the Trump administration is considering.

Cadlow told Bloomberg that the US and Europe are making progress in their trade negotiations and may announce some agreements within the next month.

“No Negotiations”: US, China Don’t Discuss Ending “Trade War”

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