President Trump promised a deal with China will come “when the time is right” Tuesday, calling the current atmosphere of mistrust between the two countries, which has produced an increase in tariffs on both nations’ goods, “a little squabble.”
U.S. President Donald Trump on Friday ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China, underscoring a lack of progress by U.S. and Chinese negotiators in talks aimed at ending an escalating trade war.
Trade talks between the U.S. and China are expected to continue on into Friday despite the Trump administration's plans to hike tariffs on virtually all Chinese goods to 25% at midnight Thursday. The extension indicates the sides still think they can reach an agreement, even after missing Thursday's deadline.
President Donald Trump says the United States will impose new tariffs on more than $11 billion worth of exports from the European Union, after the World Trade Organization ruled last year the EU was illegally subsidizing aircraft maker Airbus.
President Trump hinted Friday at a possible compromise in the upcoming trade talks with China: leaving in place tariffs on $50 billion worth of Chinese goods but negotiating on the remaining $200 billion worth of goods currently subject to tariffs.
The U.S. trade deficit widened in 2018 to a 10-year high of $621 billion, bucking President Donald Trump’s pledges to reduce it, as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports.