‘I haven’t agreed to anything,’ said President Trump, contradicting U.S and Chinese officials who said a day earlier that both countries agreed roll back tariffs in a phase one trade deal if it is completed
WASHINGTON - President Donald Trump on Friday said he has not agreed to rollbacks of U.S. tariffs sought by China, sparking fresh doubts about when the world’s two largest economies may end a 16-month trade war that has slowed global growth.
“China would like to get somewhat of a rollback, not a complete rollback, ‘cause they know I won’t do it,” Trump said. “I haven’t agreed to anything.” The farm state of Iowa has been hammered by China’s retaliatory tariffs on U.S. soybeans, pork and other farm products, but has longstanding connections to Chinese President Xi Jinping.
Experts inside and outside the U.S. government warn that the “phase one” trade pact could still fall apart. U.S. officials said a lot of work remained to be done when Trump announced the outlines of an interim deal last month, and Beijing has since pushed back on U.S. demands for big agricultural purchases, among other issues.
Trump has used tariffs on billions of dollars of Chinese goods as his primary weapon in the protracted trade war, which is aimed at forcing major changes in China’s trade and industrial policies. The United States is demanding that China end the theft and forced transfer of American intellectual property and curb subsidies to state-owned enterprises, while granting U.S. companies more access to China’s markets. Trump also wants China to vastly increase its purchases of U.S. farm products.
China and the United States were on the brink of reaching a deal in May when Beijing backed away from it, prompting Trump to raise tariff rates and embark on new rounds of punitive duties.
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