"We are doing very well in our negotiations with China", Trump said via Twitter. "While I am sure they would love to be dealing with a new administration so they could continue their practice of "ripoff USA"($600 B/year), 16 months plus is a long time to be hemorrhaging jobs and companies on a long-shot".
Trump warned said his likely reelection in 2020 would make a new trade deal much more difficult for China, which will meantime suffer significant economic losses.
....And then, think what happens to China when I win. Deal would get MUCH TOUGHER! In the meantime, China’s Supply Chain will crumble and businesses, jobs and money will be gone!
— Donald J. Trump (@realDonaldTrump) September 3, 2019
Trade tensions between the United States and China escalated in late August as China said it will apply tariffs ranging from 5 to 10 percent on $75 billion worth of US goods and a 25-percent duty on US cars.
Later on that day, Trump said that the United States would raise the existing tariffs on $250 billion worth of Chinese goods to 30 percent from the current rate of 25 percent starting on 1 October.
A week later Trump said US tariffs on Chinese goods will be imposed as scheduled but also emphasized that trade negotiations with Beijing continue.
Before that, US President Donald Trump and Chinese President Xi Jinping met on the margins of G20 summit in Osaka to discuss their trade discord and confirmed readiness to reach a mutually acceptable agreement. On 1 August, however, Trump announced his decision to introduce a 10-percent tariff on Chinese imports, blaming Beijing for not keeping the promise to buy more US agricultural products.
The United States and China have been engaged in a trade war since summer 2018, when Washington hiked duties on $50 billion worth of Chinese imports in a bid to balance the trade deficit. Since then, the two countries have exchanged several rounds of reciprocal tariffs.
