Trump not ready to make a deal with China

Trump not ready to make a deal with China

The decision came after Beijing said it was halting purchases of U.S. farming goods, according to people familiar with the matter cited by Bloomberg.

However, optimism was dented by the Bloomberg report, which added to concerns that deterioration in U.S.

U.S. chipmakers such as Intel, Qualcomm, and Broadcom sent their chief executives to meet with President Trump in July in a bid to accelerate the process of obtaining licenses to sell to Huawei.

Trump's statement came amid China's refusal to buy United States agricultural goods - a move that's said to be in retaliation of Trump's tariffs on imports from China.

9 said he was not ready to strike a trade deal with Beijing, criticizing the Chinese regime for manipulating its currency and reneging on its pledges.


Speaking to reporters at the White House on Friday before departing for fundraisers in NY state, Trump also said the USA would continue to refrain from doing business with Chinese telecoms equipment giant Huawei Technologies.

"Critically, we're not seeing any movement so far from commerce or the White House in easing the export restrictions on Huawei", Goujon said.

After the last round of talks in Shanghai, Trump had said no progress was made and announced plans to impose new tariffs on $US300 billion worth of Chinese goods, on top of the tariffs he had imposed since previous year. "That doesn't mean we won't agree to something if and when we make a trade deal, but we're not going to be doing business with Huawei".

"I really made the decision".

The president also accused China of manipulating its currency and said USA tariffs on China have been "amazing".


The Trump administration in June said it would allow some USA companies to sell technology supplies also widely available from other countries to Huawei. "The cost of tariffs imposed by the United States should be borne by the U.S. market and consumers", the association said. Late in May, the Trump administration placed Huawei on its Entity List, limiting USA companies from selling to it without a license.

The comments Friday capped off a week of dramatic escalations in the yearlong economic dispute between the U.S. and China, which has together led to more than $350 billion worth of tariffs and weighed on global trade flows.

"No I wouldn't do that", Trump said when asked if he wanted to devalue the dollar.

On Monday, China allowed its currency to devalue against the U.S. dollar, which some are saying is a move in a "currency war".

The foot-dragging comes after Beijing announced that it would stop purchasing U.S. farminggoods.


Related Articles

  • Fresh clues found in Canada manhunt

    Fresh clues found in Canada manhunt

    RCMP say the investigations into the homicides are still on-going and more updates will be provided once available. He said the RCMP were anticipating charges in the deaths of Fowler and Deese, but they were not forthcoming.
    Which one would you get: Galaxy Note 10 or Galaxy Note 10+?

    Which one would you get: Galaxy Note 10 or Galaxy Note 10+?

    Qualcomm had also brought two flagships SoCs - the Snapdragon 855 and the 855+, which was launched recently. ET Wednesday), Samsung has launched a new, powerful smartphone chip - the Exynos 9825 .
    USA  stocks claw back lost ground

    USA stocks claw back lost ground

    The S&P 500 was down 28.98 points, or one percent overall - while the tech-heavy Nasdaq Composite Index was down slightly. Bank Wealth Management. "We started a fight, and when the opponent punches back, I'm not sure why we're surprised".
  • Tottenham make bid for Arsenal transfer target Philippe Coutinho

    Tottenham make bid for Arsenal transfer target Philippe Coutinho

    However, Arsenal appear to have entered the race late on and could now seal the deal before Thursday's 5pm transfer deadline. Arsenal's Spanish head coach Unai Emery takes a training session at Arsenal's Colney training centre in St.
    Samsung Galaxy Note 10+ passes Malaysia's SIRIM certification

    Samsung Galaxy Note 10+ passes Malaysia's SIRIM certification

    The name was confirmed in a leak by Evan Blass yesterday but the device was already in the news before then. And, if the promotion is believed, the original Note 10+ is quite similar to the previously leaked images .
    RBI cuts key rate by 35 bps to boost economic activitiy

    RBI cuts key rate by 35 bps to boost economic activitiy

    It further mentioned that import of capital goods - a key indicator of investment activity - contracted in June. Das said the recent rate cuts in tandem with anticipated government moves should lift sluggish economic growth.
  • Meet HarmonyOS, Huawei’s alternative to Google’s Android operating system

    Meet HarmonyOS, Huawei’s alternative to Google’s Android operating system

    The company says it will allow the third-party developer to make use of the dark mode on Huawei phones by simply calling an API. Huawei's mobile chief Richard Yu said on Friday that HarmonyOS is ready to be used on the company's smartphones at any time.
    Is Pakistan able to counter India's move in Kashmir?

    Is Pakistan able to counter India's move in Kashmir?

    Tens of thousands of people have died in the armed revolt to secede from India that erupted in 1989 and has ebbed and flowed since then.
    Aussie dollar plummets to 10-year low

    Aussie dollar plummets to 10-year low

    The Japanese currency rose 0.2% to 106.27, although that was still some way from levels seen on Monday when the escalating U.S. In New Zealand, low interest rates and increased government spending will support a pick-up in demand over the coming year.
  • House Judiciary sues to force McGahn to testify

    House Judiciary sues to force McGahn to testify

    The legal action comes at a time when more than half of House Democrats have said they support beginning an impeachment inquiry. House Democrats filed the lawsuit in federal District Court in DC, and a judge has not yet been assigned.
    British Airways cancels 91 flights after 'worldwide computer failure'

    British Airways cancels 91 flights after 'worldwide computer failure'

    A Heathrow spokesperson said BA was experiencing "a technical issue with its systems" impacting check-in and departures there. Almost 100 flights from London's Heathrow and Gatwick have been canceled, and 200 have been delayed, according to ITV .
    Disney will offer $12.99 bundle for Disney+, Hulu, ESPN package

    Disney will offer $12.99 bundle for Disney+, Hulu, ESPN package

    These stemmed from its consolidation of Hulu , spending on the new Disney+ streaming platform and the ESPN + streaming service . That number was, however, lower than the $21.4 billion Wall Street had expected after the company's busy quarter.