WASHINGTON, The White House on Wednesday warned it would go ahead with sweeping trade tariffs if China does not curb its “unfair trade practices.” White House spokesperson Sarah Huckabee Sanders told reporters in Washington that the United States was still going through a review process or proposed trade tariffs on imported goods from China, and it would be a couple months before tariffs on either side would go into effect and be implemented.
“China created this problem not President Trump,” Sanders said after China hit the US on Wednesday with proposed tariffs on USD 50 billion worth of American soybeans, cars, chemicals and other goods in response to the Trump administration announcement of a new 25 percent tariff on Chinese products like flat-screen televisions, medical devices, aircraft parts and batteries.
It outlined more than 1,300 imported goods as part of a sweeping trade measure aimed at penalizing China for its trade practices.
“We certainly expect China to make changes and stop the unfair trade practices that they participated in for decades,”said Sanders, cautioning, “I would anticipate that if there are no changes to the behavior of China and they don’t stop the unfair trade practices then we would move forward.” Asked by a reporter about the impact of Trump administration’s saber-rattling on the stock market, Sanders asserted “We may have a little bit of short term pain but we will certainly going to have long-term success.” Meanwhile, President Donald Trump took to social media to try to soothe economic anxieties over tariffs.
“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the US,” Trump tweeted, adding, “Now we have a Trade Deficit of USD 500 Billion a year, with Intellectual Property Theft of another USD 300 Billion. We cannot let this continue!” Separately, Trump’s top economic adviser, Larry Kudlow in an interview with Fox Business Network suggested the tariffs may not going into effect at all, saying “What you’ve got is the early stages of a process which will include tariffs, comments on the tariffs, then ultimate decisions and negotiations. There’s already back-channel talks going on.
Source: Kuwait News Agency