President Donald Trump introduced Sunday that he is growing tariffs on thousands of billons of greenbacks in Chinese items and complained trade talks between the two international locations are now not progressing as quickly as he’d like.
“For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of different goods,” Trump wrote in a two-part Twitter post. “These payments are in part accountable for our outstanding monetary results. The 10% will go up to 25% on Friday. 325 Billions Dollars of extra itemsdespatched to us through China remain untaxed, however will be shortly, at a price of 25%.”
“The Tariffs paid to the USA have had little influence on product cost, primarily borne by China,” he continued. “The Trade Deal with China continues, but too slowly, as they strive to renegotiate. No!”
Trump’s announcement comes as Chinese officers arrive in Washington for a late-stage round of talks on a exchangeagreement this week, and his administration officials have expressed optimism about the negotiations. Last week, White House press secretary Sarah Sanders stated the talks “remain focused toward making full-size progress on important structural problems and re-balancing the US-China trade relationship.”
On Friday, Vice President Mike Pence told CNBC the president was hopeful a deal should be struck.
The remarks come as China’s top trade envoy, Liu He, visits Washington, D.C., this week for persevered negotiations.