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chairman donald trump appeared to accept that They have imposed unilateral import tax on Chinese products This is having a detrimental impact on the pocketbooks of American consumers, but they have expressed no desire for change. They have started a trade war against Beijing Since returning to the White House nine months ago.
The president made the shocking admission during an appearance on Fox Business Network on Friday morning with maria program after anchor Maria Bartiromo He was pressed on his recent threat to impose additional 100 percent tariffs on Chinese imports after the Chinese government announced plans for new export controls on rare earth metals used in various technology-related products.
Bartitomo asked: “If you put a 100 percent tariff on top of the current one, that imposes a 157 percent tariff. ChinaCan he stand? What is he doing for the economy?”
In response, Trump acknowledged that a 157 percent tax on Chinese imports is “not sustainable”, before acknowledging that such a tax rate is “where the numbers are” at this point.
He added, “Could possibly afford it – but they forced me to do it.”
After this Trump praised the Chinese leader profusely Xi JinpingCalling him a “wonderful person” and a “great leader” whose life story could be “good for a movie” in his estimation.
He said, “I think we will have no problem with China, but we have to make a fair deal, which should be fair, you have covered it and anyone else has also covered this topic as it is a very complex topic here. China has troubled us from day one.”
He then accused one of his predecessors, Richard Nixon, of “opening up China” with his 1972 visit, which was preceded by the easing of trade and travel restrictions imposed during the Korean War. Full diplomatic relations with Beijing were later established during the Jimmy Carter administration, which severed recognition of Taiwan in favor of the People’s Republic of China.
“Richard Nixon allowed this to happen in China – I said, ‘Is that good or bad? You tell me,'” he said, later adding that the 37th president “provoked a very strong adversary” by working to ease Sino-US tensions.
The proposed 100 percent tax is scheduled to go into effect Nov. 1, but U.S. Trade Representative Jameson Greer told CNBC that it could change depending on “what the Chinese do” regarding their export controls on rare earth minerals.