Trump Says Deal with China is Close but Unsure If He Will Do it

November 29, 2018 Share Print 0

President Donald Trump told reporters Thursday he was “close” to doing something on trade with China.

He made the remarks as he prepared to depart for the G-20 summit meeting of world leaders in Argentina.

“I think we’re very close to doing something with China but I don’t know that I want to do it,” Trump told reporters. “Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don’t know.”

Trump is supposed to meet with China’s President Xi Jinping while the two attend the summit. Trade and tariffs have been topics of increasing tension between the two countries since Trump started ratcheting up the heat earlier this year in a series of escalating tariffs on Chinese imports. China has retaliated with tariffs of its own on U.S. imports.

“I will tell you that I think China wants to make a deal, I’m hoping to make it a deal but, frankly, I like the deal we have right now.”

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.