FLASH: “I am always prepared to walk!”
President Trump Thursday warned he could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted “fantastic” progress towards an agreement to end a dispute with the Asian country.
The United States has imposed tariffs on hundreds of billions of dollars worth of China’s goods, hammering their economy and driving their financial markets deep in Bear territory
“I am always prepared to walk,” Trump said in Hanoi, after cutting short a summit meeting with North Korea’s Kim Jong Un that failed to reach a nuclear deal. “I’m never afraid to walk from a deal. And I would do that with China, too, if it didn’t work out.”
The United States is poised to hike tariffs on some $200-Bin Chinese imports to 25% from 10 after Friday if no deal was reached by then.
Since then, The Trump Administration officials have offered few details on the discussions.
“The progress last week was fantastic,” White House economic adviser Larry Kudlow said, “We are heading towards a remarkable, historic deal,” he added.
Kevin Hassett, Chairman of the White House’s Council of Economic Advisers, was similarly upbeat, saying that Mr. Lighthizer and Chinese Vice Premier Liu He drafted “sketches of an agreement on intellectual property theft and trade … that really makes sense for both parties.”
“If you look at the paperwork we’ve got and the line-by-lines that people have sketched out, it’s just about as favorable as you could hope for,” Mr. Hassett said, adding that final details would need to be approved by Trump and Chinese President Xi Jinping at a meeting at President Trump’s Mar-a-Lago estate in Florida.
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