Trump says US 'active' in tariff negotiations with China. China says otherwise
White House considering tariff cuts on China: Report
The Trump administration is considering tariff cuts on Chinese imports, according to a report from the Wall Street Journal. The AIER's Lydia Mashburn Newman joins LiveNOW's Andrew Craft to discuss.
President Donald Trump has insisted that the U.S. and China are actively negotiating a deal to bring down the massive tariffs Trump has imposed, but China denied that assertion Thursday.
Trump had told reporters earlier in the week that "everything’s active" when asked if he was engaging with China, although his Treasury Secretary had said there were no formal negotiations.
China said Thursday that any suggestion of progress in the trade war was as groundless as "trying to catch the wind."
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Where do US-China tariffs stand?
The backstory:
Trump had put 145% tariffs on imports from China, while China hit back with 125% tariffs on U.S. products. While Trump has given other countries a 90-day pause on the tariffs, as their leaders pledged to negotiate with the U.S., China remained the exception. Instead, Beijing raised its own tariffs and deployed other economic measures in response while vowing to "fight to the end." For example, China restricted exports of rare earth minerals and raised multiple cases against the U.S. at the World Trade Organization.
FILE - U.S. President Donald Trump, right, and Xi Jinping, China's president, greet attendees waving American and Chinese national flags during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. Phot
What they're saying:
Trump said Tuesday that the final tariff rate on China's exports would come down "substantially" from the current 145%.
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Despite the ongoing trade war, Trump said Tuesday that he would be "very nice" and not play hardball with Chinese President Xi Jinping.
"We’re going to live together very happily and ideally work together," Trump said.
The other side:
"China’s position is consistent and we are open to consultations and dialogues, but any form of consultations and negotiations must be conducted on the basis of mutual respect and in an equal manner," said Ministry of Commerce spokesman He Yadong. "Any claims about the progress of China-U.S. trade negotiations are groundless as trying to catch the wind and have no factual basis."
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China also made it clear that talks should involve the cancellation of all tariffs it currently faces.
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"The unilateral tariff increase measures were initiated by the United States. If the United States really wants to solve the problem, it should face up to the rational voices of the international community and all parties at home, completely cancel all unilateral tariff measures against China, and find ways to resolve differences through equal dialogue," said He, the spokesman.
The Source: This report includes information from The Associated Press.