Trump says he is confident of reaching a fair trade agreement with China
US President Trump said that he still plans to reach a fair trade agreement with China in several weeks.
Trump told reporters, "We will discuss what progress can be made in South Korea in a few weeks... I expect we are likely to reach a very fair agreement with China."
Trump also said that if the two sides fail to eliminate trade differences, China will bear a 155% import tariff.
On October 9, the Chinese Ministry of Commerce issued two announcements regarding strengthened export controls on rare earth-related items. On October 10, Trump announced that the United States would impose a 100% tariff on products from China and implement export controls on software, which will take effect before November 1. He also warned that restrictions may be imposed on other goods exported to China, mainly aircraft parts.
The spokesperson for the Chinese Ministry of Commerce responded on October 12, stating that China's release of export control measures on rare earths and related items is a normal action to improve its own export control system. For a long time, the US has generalized national security, abused export controls, and taken discriminatory practices against China, implementing unilateral long-arm jurisdiction measures on many products such as semiconductor equipment and chips. It often threatens with high tariffs, which is not the right way to deal with China. If the US persists in its actions, China will certainly take corresponding measures to safeguard its legitimate rights and interests.
Sources: Sputnik News
Original: www.toutiao.com/article/1846520715788299/
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