Trump is & # 39; perfectly happy & # 39; to base more rates on China and will NOT close a deal on trading on G-20

Trump is & # 39; perfectly happy & # 39; to base more rates on China and will NOT agree to trade in face-to-face talks with the president of the country of Xi at G-20 next week, says Wilbur Ross

  • The president is expected to sit in Japan later this month with Chinese president Xi Jinping
  • He has threatened to throw $ 300 billion in rates on Chinese goods
  • Ross predicted a possible deal
  • But he said that Trump & # 39; perfectly happy & # 39; was to impose the rates
  • Trump relied this month on an impending 5 percent rate on Mexico

President Donald Trump is completely happy & # 39; to throw $ 300 billion in additional rates on China, his trade minister said Monday.

Trump, who is expected to meet Chinese President Xi Jinping by the end of the month, will eventually close a deal, predicted Trade Secretary Wilbur Ross.

But Ross said that Trump is willing to take the next step in a trade war that has been going on for a year.

& # 39; We'll eventually make a deal, but if we don't, the president will be delighted to continue the rate movements we've already announced, and to impose the new one he has temporarily suspended & # 39; , Ross said. CNBC Monday.

Commerce Secretary Wilbur Ross said the president & # 39; perfectly happy & # 39; is to impose rates

Commerce Secretary Wilbur Ross said the president & # 39; perfectly happy & # 39; is to impose rates

Ross also downplayed expectations for a meeting in Japan, assuming that one-on-one is advancing.

& # 39; We hope there will be a conversation, but in the G20 environment you are not talking about a 2500-page agreement. G20 is true at the 40,000-foot level there may be a chord on a path forward, but that's about as far ahead as you can expect it to go, & Ross said.

Ross has included a series of repeated complaints about Chinese trade practices, including legal restrictions for private companies and market access for foreign imports, as well as the regime's willingness to enforce what has been agreed.

& # 39; Given China's record, it is very important to us that we have good enforcement and that is difficult, & # 39; he said, typing it as a big stumbling block.

The US and China have been in an escalating trade war since last year, but the talks to try to end it broke off in May.

Trump said Friday & # 39; it doesn't matter & # 39; if Xi attends the upcoming summit.

It is unclear how mass protests in Hong Kong will affect China's attitude. Trump and the Chinese leader, who can stay in power indefinitely after breaking the deadline, are expected to meet at the G20 summit in Osaka, Japan.

Ross made his comments to CNBC from the Pairs Airshow Monday

Ross made his comments to CNBC from the Pairs Airshow Monday

Ross made his comments to CNBC from the Pairs Airshow Monday

Trump has repeatedly accused China of unfair trade practices and has threatened to impose additional rates

Trump has repeatedly accused China of unfair trade practices and has threatened to impose additional rates

Trump has repeatedly accused China of unfair trade practices and has threatened to impose additional rates

Xi Jinping is struggling with massive protests in Hong Kong

Xi Jinping is struggling with massive protests in Hong Kong

Xi Jinping is struggling with massive protests in Hong Kong

& # 39; I think we will have the opportunity to see President Xi at the G20 summit within a few weeks. I'm sure this will be one of the issues they discuss, & Secretary of State Mike Pompeo told Fox News Sunday.

Trump has followed a number of militant trade tactics while withdrawing from others.

Trump failed to follow a threatening 5 percent rate on Mexican imports this month, referring to concessions from the Mexican government, although some of them had been in the works for months.

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