Whiplash is an understatement amid the bitter trade war between the United States and China. President Donald Trump says he’s ready to strike a trade deal with China but believes Chinese leaders should make the first move to solve the trade tensions.
“The ball is in China’s court,” White House Press Secretary Karoline Leavitt said, which was Trump’s direct comment on the matter. “China needs to make a deal with us; we don’t have to make a deal with them.”
In the media briefing with reporters Wednesday, she added, “There’s no difference between China and any other country except that they are much larger. And China wants what we have -– every country wants what we have –- the American consumer. Or, to put it another way, they need our money.”
A Trade War With China Since Trump’s Return To Office
Since Trump returned to the White House, the U.S. and China have been engaged in an escalating trade war.
Initially, Trump announced tariffs on various countries but paused and delayed his tariffs on dozens of trading partners, except with China. As of Thursday, a 145% tariff is in effect on Chinese imports. However, Beijing has not backed down and punched back with a 125% retaliatory tariff.
As Politico reports, the Trump administration is “shooting blanks” in its strategy. Trump’s ultimate goal is to renegotiate a “fair deal” with China. But so far, Trump’s strategy has caused chaos in the markets, frustrations among various industries, and a tit-for-tat trade war with China.
In addition to retaliatory tariffs, China has reneged on a deal with US aircraft manufacturer Boeing, and Hong Kong’s postal service warned it would stop carrying US-bound mail in response to the tariffs.
“The U.S. is unreasonable, bullying and imposing tariffs abusively. Hongkong Post will definitely not collect any so-called tariffs on behalf of the U.S. and will suspend the acceptance of postal items containing goods destined to the US,” the postal service said in a statement.
While Trump waits for a call from Beijing, Chinese leaders have signaled that it’s highly unlikely and are willing to “fight to the end” if the U.S. continues to escalate tariffs, Al Jazeera reports.
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