18:00 GMT +320 October 2019
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    Trump Claims ‘Many Firms’ Leaving China to Avoid Paying Tariffs

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    The US and China have been engaged in a trade war since Washington began imposing hefty tariffs on Chinese goods in 2018. The subsequent mutual exchange of tariffs was put on hold at the beginning of 2019, but was resumed by President Trump, who referred to a lack of progress in trade talks between the two states.

    US President Donald Trump has boasted about the success of his policy of imposing tariffs on China, claiming that many firms have already left the Asian state for the US and other countries in order to avoid additional taxation on their products on the American market. At the same time, he added that the US has not faced negative consequences from imposing the tariffs.

    The US president also stated that Beijing was being forced to subsidise goods produced domestically in order for them to remain competitive on the American market.

    Trump recently threatened China with additional 25% tariffs on $300 billion worth of goods unless progress is made in talks with Beijing on a new trade deal. The threat comes in the wake of the recent addition of 25% fees on $200 billion worth of goods coming from China.

    READ MORE: US Starts Collecting 25% Tariffs on Chinese Products Arriving by Sea - Reports

    Washington and Beijing have been engaged in a trade conflict since May 2018, when US President Donald Trump announced that he would impose high tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit. Since then, the countries have engaged in talks to end the trade war, which have so far been fruitless.

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