Even as fears around US-China war escalate, Donald Trump said on Wednesday that Beijing is trying to renegotiate the draft trade deal. China’s vice-premier Liu Hi would soon visit the US to ‘make a deal’ on trade, he added. The world’s second largest economy is playing for time, aiming for aDemocrats win in the 2020 presidential election, he noted.
The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to “negotiate” with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States (($500 Billion a year)) for years to come….
— Donald J. Trump (@realDonaldTrump) May 8, 2019
….Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal. We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China!
— Donald J. Trump (@realDonaldTrump) May 8, 2019
Also read: US, China bilateral trade falls in first four months of 2019 amid trade war; key figures
Meanwhile, the trade volume between the two nations has fallen by 20 per cent from January to April this year on account of trade war between the two largest economies in the world. The experts are of the view that the situation may get worse if Donald Trump goes ahead and clamp punitive tariffs on USD 200 billion worth of Chinese imports this week.
From January to April, the trade between the two countries was 1.1 trillion yuan ($173 billion), which is down from 20 per cent in 2017 before they engaged in the trade war, the official data said.
