President Donald Trump said on Wednesday that “there will be an agreement with China”, after announcing a new increase in American customs duties on Chinese products, at 125%.
Donald Trump predicted a trade agreement with the rest of the world on Wednesday, April 9, including China, after announcing a “break” in his customs duties, except for Beijing.
“There will be an agreement with China, there will be an agreement with all (countries),” said the American president before the press, while his customs duties have caused panic on the global financial centers since last week.
“China wants to conclude an agreement” but “does not know how to go very well,” he added, a few hours after announcing a new prohibitive increase, 125%, American customs duties on Chinese products, while suspending increases for other countries for 90 days, reduced to 10%.
The Chinese, “very proud people”
Beijing was punished for responding to American customs duties despite Washington’s warnings, said the republican billionaire.
-“They are very proud people,” he said about the Chinese. “And President XI (Jinping) is a proud man. I know him very well”.
Asked about the causes of his turnaround, Donald Trump acknowledged that he was monitoring the fall in the US Treasury bill market before deciding to suspend his trade war.
“I was monitoring the bond market. It is a very complicated market,” he said, adding that he had noted Tuesday evening that his customs surcharges “frightened a little.” “You have to be flexible,” he said.
Asked about the consequences of customs duties for American companies, Donald Trump has promised to look at specific cases.
“Some (companies) have been hardly affected,” he admitted. “Some, by their nature, are struck a little harder. We will look into it.”
