Trump is very serious. No concessions, either a deal or tariffs


US President Donald Trump said that he was ready to continue raising tariffs on part of Chinese imports from the current 10% to 25%, and reiterated his threat to increase tariffs on all remaining imports from China.

Four days before meeting with Chinese President Xi Jinping in Argentina, Trump said it's "unlikely" that he would fulfill China's request to postpone the increase. "The only possible deal will be that China should open itself up to competition from the United States," said Trump, adding, "this also applies to other countries."

In Beijing, Foreign Ministry spokesman Geng Shuang confirmed China's hopes that both sides would be able to achieve a "positive result" at the meeting of the two leaders, citing the "consensus" they reached on November 1 during a telephone conversation. Another Chinese official, on condition of anonymity, said that both leaders would strive to defend their interests, and the main problem was how to resolve disputed issues and end a trade war.

It is worth noting that Apple shares fell after Trump's speech. Earlier, Apple CEO Tim Cook personally discussed the issue of tariffs with Trump, telling the president that, although there are strong concerns about US-China trade, "tariffs are not the best way to solve them."


The material has been provided by InstaForex Company -