Editor in Chief: Moh. Reza Huwaida Friday, April 27th, 2018

Trump Suggesting China Will ‘Take Down’ Its Trade Barriers

Trump Suggesting China Will  ‘Take Down’ Its Trade Barriers

WASHINGTON — amid rising concerns about a possible trade war between the U.S. and China, President Donald Trump suggested that Beijing will ease “because it is the right thing to do” and that the economic superpowers can settle the disputes that have rattled financial markets, consumers and businesses.
But fostering more uncertainty, two of the president’s top economic advisers offered mixed messages Sunday as to the best approach with China, which has threatened to retaliate if Washington follows through with its proposed tariffs, even as Trump emphasized his bond with Chinese President Xi Jinping.
“President Xi and I will always be friends, no matter what happens with our dispute on trade,” Trump wrote. “China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!”
But Trump did not explain why, amid a week of economic saber-rattling between the two countries that shook global markets, he felt confident a deal could be made.
The president made fixing the trade imbalance with China a centerpiece of his presidential campaign, where he frequently used incendiary language to describe how Beijing would “rape” the U.S. economically. But even as Trump cozied up to Xi and pressed China for help with derailing North Korea’s nuclear ambitions, he has ratcheted up the economic pressure and threatened tariffs, a move opposed by many fellow Republicans.
The Trump administration has said it is taking action as a crackdown on China’s theft of U.S. intellectual property. The U.S. bought more than $500 billion in goods from China last year and now is planning or considering penalties on some $150 billion of those imports.  (AP)