US-China trade: Washington [US], September 15 (ANI): US President Donald Trump on Monday said that a major trade meeting in Europe between the United States and China has ‘gone very well’ .
He also indicated a deal with China concerning TikTok.
Trump said he will speak with President Xi Jinping on Friday, and the relationship between the two countries ‘remains very strong’.
‘The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly. A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!! President DJT,’ Trump said on his social media handle Truth Social.
https://truthsocial.com/@realDonaldTrump/115208260926006345
Earlier in the day, Trump also touched upon the future of TikTok in the United States, saying that China will ultimately play a key role in deciding the app’s fate as trade negotiations between the two countries continue.
Linking the discussions to broader economic and technological talks, he told reporters in New Jersey before returning to Washington, ‘I may, I may not. We’re negotiating TikTok right now. We may let it die, or we may, I don’t know. It depends, up to China. It doesn’t matter too much. I’d like to do it for the kids. They like it.’
‘I mean, selfishly speaking, I did very well with TikTok, and I got the youth vote. I got numbers that nobody’s ever even come close to in the Republican Party, nobody,’ he added.
As per The New York Times, Trump has until September 17 to enforce or delay a law requiring TikTok to be separated from its Chinese owner, ByteDance, or face a ban in the US.
The President has already delayed enforcing the law three times. Congress passed the bipartisan legislation last year to ban TikTok in the country unless it found a non-Chinese owner because of concerns that the social media app’s ties to China made it a national security threat to the US, as per The New York Times.
Talks with China have been more complicated. Trump imposed 145 per cent tariffs on Chinese imports in April, essentially halting trade, before lowering that levy to 30 per cent. China put 10 per cent tariffs on American products.
Last Saturday, China announced that it was opening an investigation into exports of certain microchips that are made in the US. The day before, the US Commerce Department said it was adding Chinese chip companies to a trade blacklist. The moves are expected to put additional pressure on the talks.
The world’s two largest economies have been discussing further tariff reductions and the status of China’s restrictions on shipments of rare earth minerals and magnets critical to US manufacturers. The Trump administration is also concerned that China has stopped buying American agricultural products, threatening the livelihood of soybean farmers.
Bessent has criticised China’s excess industrial capacity, describing its economy as unbalanced, and urged his Chinese counterparts to curb purchases of oil from Russia and Iran.
Trump and Chinese President Xi Jinping could meet next month at the Asia-Pacific Economic Cooperation forum in South Korea. Trump has also suggested that he may visit China at some point on Xi’s invitation. (ANI)
