July 6, 2020, 4:18

Trump: US Tariffs on Chinese Products ‘Having Devastating Effect’ for Beijing

Trump: US Tariffs on Chinese Products ‘Having Devastating Effect’ for Beijing

WASHINGTON (Sputnik) – US President Donald Trump said on Thursday that the United States is doing “very well” in the trade talks with China and Beijing wants to make a deal with Washington.

“I think, we are doing very well with China”, Trump told reporters at the White House. “China would love to make a deal with us”.

Trump claimed that US tariffs on Chinese products “are having the devastating effect for China” and as result companies are leaving China for Vietnam and other parts of Asia.

The statement comes after a few days ago the US President noted that a trade agreement with China was unlikely to come in the near future, despite months of negotiations.

READ MORE: Microsoft WARNS US Crackdown on China’s Huawei Could Backfire

Washington and Beijing have been trying to reach a deal on trade disagreements that emerged after President Trump had ordered last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit.

Since then, both the US and China imposed several rounds of duties against each other, with the latest US decision to introduce 25 percent tariff fee, affecting at least $200 billion worth of Chinese goods. In response, Beijing pledged to increase tariffs on $60 billion worth of American imports starting in June.

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