President Donald Trump has “no deadline” for striking a trade deal with China, he told reporters Dec. 3 during a meeting in London. “I like the idea of waiting until after the election for the China deal,” he said. The Chinese “want to make a deal now, and we’ll see whether or not the deal’s going to be right,” he said. “It’s got to be right.” A trade agreement is “dependent on one thing -- do I want to make it?” Trump said. “We’re doing very well with China right now. We can do even better with the flick of a pen.” China didn’t immediately comment. Extending the U.S.-China trade war for another year past the 2020 election would be a “bad deal” for “every segment of the economy,” said David French, senior vice president-government relations at the National Retail Federation. “We want and need to see a deal as soon as possible,” said French. Four rounds of Section 301 tariffs on Chinese goods at 15 percent and higher “continue to hurt U.S. businesses, workers and consumers and are a substantial drag on the U.S. economy,” he said.
When asked on "Fox & Friends" Nov. 22 whether he intends to sign or veto two bills on Hong Kong (see 1911200036), President Donald Trump didn't directly answer, instead saying, “We have to stand with Hong Kong, but I’m also standing with President Xi [Jinping], he’s a friend of mine. He’s an incredible guy, but we have to stand … I’d like to see them work it out, OK?"
President Donald Trump told a Wall Street Journal White House reporter that he's been fully briefed by the U.S. trade representative on the issue of auto tariffs, and said he will make a decision very soon on whether he will delay imposing tariffs on imported cars and car parts.
President Donald Trump, in a press conference with the president of Turkey on Nov. 13, said trade with Turkey “could be many times larger" than it is now, and that his administration has the goal of roughly quadrupling the volume of trade between the two countries, which would be $100 billion in two-way trade. According to the Office of the U.S. Trade Representative, U.S. goods exported to Turkey were valued at $10.2 billion, while goods imported totaled $10.3 billion.
President Donald Trump said everybody thinks it makes sense for the executive branch to be able to hike tariffs on trading partners to the same levels those countries tax the corresponding American products. This proposal, the Reciprocal Trade Act (see 1901240017), was introduced by a Republican who left his office in the middle of the term to work as a CNN talking head. Trump acknowledged that it cannot pass unless Republicans retake the majority in the House of Representatives.
NEW YORK -- Most apparel was spared from Section 301 tariffs until September, when a large swath of imports was hit with 15 percent additional tariffs, though a few categories were on List 3, and are facing an additional 25 percent. Between the two rounds, 77 percent of apparel is subject to 301 tariffs. The Office of the U.S. Trade Representative is now tasked with considering exclusion requests for List 3, and Assistant USTR for Textiles Bill Jackson said that volume is “astounding" -- about 30,000 requests. Only 600 of those are in tariff code chapters 50 to 60, he said, and fewer than 20 have been granted approval so far.
Vice President Mike Pence, even as he called China "a strategic and economic rival," said that the U.S. wants to keep talking after the phase 1 trade deal is done, in order "to bring about long-overdue structural reforms in our economic relationship. And as I heard again from him this morning, President Trump remains optimistic that an agreement can be reached."
President Donald Trump, just before meeting with India's Prime Minister Narendra Modi in New York at the United Nations General Assembly on Sept. 24, answered a reporter's question on whether a trade announcement is coming by saying: "Bob Lighthizer, who's right here, was negotiating with India and their very capable representatives. And I think very soon we'll have a trade deal. We'll have the larger deal down the road a little bit, but we will have a trade deal very soon."
President Donald Trump was silent on trade frictions when he appeared before tens of thousands of Indian-Americans in Houston on Sept. 22. On stage with him, India's Prime Minister Narendra Modi only hinted at a possible solution to India's expulsion from the Generalized System of Preferences benefits program (see 1909060029). According to a transcript of the event issued by the White House, Modi said that over the next two to three days, he and Trump would discuss economic issues. "I hope that from these discussions as well we will have very positive results," he said. "By the way, President Trump calls me a tough negotiator. However, he himself is quite an expert in the 'art of the deal.' And I am learning quite a lot from him."
President Donald Trump, while visiting a southern border wall construction site near San Diego Sept. 18, told a reporter that while he could impose a 5 percent tariff on everything Mexico exports to pay for wall construction, he is "thrilled" with Mexico's migration control measures. "If I took 5 percent -- 5 percent tariff for six months -- that pays for the entire wall," he said, adding that "at this moment, I don’t want to do that because I’m really happy with what Mexico is doing."