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Trump raises China tariffs, Beijing slams move
TIWN
TIWN
PHOTO : TIWN
New York, Aug 2 (TIWN): U.S. President Donald Trump’s surprising move to impose more tariffs on China is a serious misreading of China’s pressure points, according to Eurasia Group analysts.
The latest escalation signaled a return to the way Trump negotiated with China — by trying to build more leverage over Beijing amid ongoing talks — before both sides agreed to a ceasefire in late June, Michael Hirson, Paul Triolo and Jeffrey Wright wrote in a Thursday note.
“The threat is a serious gamble for Trump,” they said. “It likely signals that he would prefer to reach a deal on his terms before the 2020 election, and is willing to use the tools at his disposal to build pressure on China to that end.”
Trump said Thursday that the U.S. will put 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1. In a series of tweets, the president complained that China did not buy “large quantities” of agricultural products from the U.S. like it had agreed to do, and that it did not stop the sale of Fentanyl, a synthetic opioid, to the United States.
China, however, insisted millions of tons of U.S. soybeans have been shipped to the country since July 19, and many companies have made orders for American soybeans, cotton, pork and sorghum, Chinese state media Xinhua said.
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