U.S. is not ready to strike deal with China: Trump
- 5 years ago
During his joint news conference in Tokyo on Monday, President Trump brought up the trade spat with China, saying the U.S. is not ready to make a trade deal with Beijing.
However, a global wealth management firm forecasts that an agreement will be made just before 2020,... when both sides will feel a need to reach a compromise.
Kim Hyo-sun reports.
Washington is not ready to make a trade deal with China.
That's what President Donald Trump said at his joint press conference with Japanese Prime Minister Shinzo Abe in Tokyo on Monday.
"As far as China is concerned, they want to make a deal. I think they probably wished they made the deal that they had on the table before they tried to renegotiate it. They would like to make a deal, we're not ready to make a deal."
He also explained that the tariffs imposed by Washington on Chinese goods could go up very, very substantially.
However, President Trump also expressed optimism that the world's two largest economies would eventually strike a deal.
"But I think sometime in the future, China and the United States will absolutely have a great trade deal. And we look forward to that."
Meanwhile, the Asia-Pacific head of the chief investment office at UBS Global Wealth Management says there's little incentive for the U.S. and China to finalize a trade deal quickly.
Speaking with American broadcaster CNBC,... Tan Min Lan predicted that any deal would only come just before the end of the year.
This,... Tan explains is because there isn't enough pain on either side to reach a deal immediately,... adding that the U.S. has a strong economy and China is able to at least stabilize its economy for the time being.
She said 2020 could be a chance for the two countries to reach a deal as Trump will be facing re-election while Beijing will want to eliminate further economic uncertainties.
Kim Hyo-sun, Arirang News.
Meanwhile, U.S. President Trump wraps up his four day state visit to Japan today.
He is set to tour Japanese and America warships on this Tuesday morning, then fly back to the U.S., arriving Tuesday afternoon in Washington.
However, a global wealth management firm forecasts that an agreement will be made just before 2020,... when both sides will feel a need to reach a compromise.
Kim Hyo-sun reports.
Washington is not ready to make a trade deal with China.
That's what President Donald Trump said at his joint press conference with Japanese Prime Minister Shinzo Abe in Tokyo on Monday.
"As far as China is concerned, they want to make a deal. I think they probably wished they made the deal that they had on the table before they tried to renegotiate it. They would like to make a deal, we're not ready to make a deal."
He also explained that the tariffs imposed by Washington on Chinese goods could go up very, very substantially.
However, President Trump also expressed optimism that the world's two largest economies would eventually strike a deal.
"But I think sometime in the future, China and the United States will absolutely have a great trade deal. And we look forward to that."
Meanwhile, the Asia-Pacific head of the chief investment office at UBS Global Wealth Management says there's little incentive for the U.S. and China to finalize a trade deal quickly.
Speaking with American broadcaster CNBC,... Tan Min Lan predicted that any deal would only come just before the end of the year.
This,... Tan explains is because there isn't enough pain on either side to reach a deal immediately,... adding that the U.S. has a strong economy and China is able to at least stabilize its economy for the time being.
She said 2020 could be a chance for the two countries to reach a deal as Trump will be facing re-election while Beijing will want to eliminate further economic uncertainties.
Kim Hyo-sun, Arirang News.
Meanwhile, U.S. President Trump wraps up his four day state visit to Japan today.
He is set to tour Japanese and America warships on this Tuesday morning, then fly back to the U.S., arriving Tuesday afternoon in Washington.