Trump makes worrying admission about the economy after claiming China 'forced him'
Topics: News, Donald Trump, US News, China
Gerrard Kaonga
Featured Image Credit: Jim Lo Scalzo/EPA/Bloomberg via Getty Images
Topics: News, Donald Trump, US News, China
The US and China have been locked in a war of words over trade for the last few months - and Donald Trump has now made an admission about his strategy.
President Trump has long been trading blows with Beijing when it comes to trade since he returned to the White House.
In recent months, he has threatened to apply a new round of tariffs on Chinese goods coming into America.
Trump's threat included an additional 100 per cent tariff on imports coming from China, in addition to export controls from November 1.
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However, China’s president Xi Jinping has hit back against the US and insisted he would implement ‘resolute measures to protect its legitimate rights and interests'.
In a statement, Beijing accused the US of 'ratcheting up economic measures' against Beijing since September.
With that said, many have been looking at Trump to see how he would respond to China not backing down to economic threats.
Recently speaking to Maria Bartiromo on Fox Business, Trump admitted that his move of 100% tariffs on Chinese goods would not actually be ‘sustainable’.
He argued that China forced him to do it and claimed, ‘It’s not sustainable, but that’s what the number is.’
He added: “It's probably not, you know, it could stand. But they forced me to do that."
One of the ways China has hit back against Trump's repeated warnings and threats is by placing tight export restrictions on rare-earth minerals.
China’s Ministry of Commerce has defended this move by stating that the control of its exports is intended to safeguard its national security. By restricting the movement of these rare-earth elements, they are able to reduce their application for military purposes by foreign nations.
Despite the ongoing tensions between the two nations, Trump has praised China for its negotiating skills, even as he hopes that America will ultimately prevail. He also claims that China has been ‘ripping off our country for years’.
Trump continued: “I've always had a great relationship with them, as you know, but they're always looking for an edge.
“I will tell you that China, in particular, has done a number on our country. They took the money out. Now it's reversed.”
As November 1 quickly approaches, both sides will likely be doing their best to come to an amicable decision where each benefits but doesn’t have to lose face in this trade war.