President Donald Trump says the United States is “getting very close” to finalising a trade agreement with China, as both countries work to ease tensions by cutting import tariffs.
Speaking during an interview with CNBC on Tuesday, Trump said talks with Beijing have been positive and suggested a deal could be reached soon.
“We’re getting along with China very well,” he said. “I think we’ll make a good deal. It’s not imperative, but I think we will.”
The US president said he was not actively seeking a meeting with Chinese President Xi Jinping, though he acknowledged they had a “very good relationship.” A face-to-face discussion might take place “before the end of the year,” but only if a deal is concluded.
“If we don’t make a deal, I’m not going to have a meeting,” Trump said. “What’s the purpose of meeting if we’re not going to make a deal?”
Trump’s remarks come as the US continues to enforce aggressive tariff deadlines. In April, the president announced broad tariffs and gave countries until August 1 to reach individual agreements or face higher import duties. China has been given until August 12 to strike a deal or risk tariffs rising above 80 percent.
US Trade Representative Jamieson Greer noted that the timeline is still under discussion. “I would say that our conversations with the Chinese have been very positive,” he said, adding that talks are happening at various levels, including between the two presidents.
Trump also used the interview to issue fresh warnings to other trade partners. He threatened to raise tariffs on the European Union if the bloc fails to deliver on its $600 billion investment pledge agreed in a July trade deal. That agreement also includes a 15 percent tariff on most EU imports and a commitment to buy $750 billion worth of American energy.
The president further announced plans to hike tariffs on India “very substantially” within 24 hours, citing New Delhi’s continued importation of Russian oil and what he called “high trade barriers.”
“They’re fueling the war machine,” Trump said. “And if they’re going to do that, then I’m not going to be happy.”