Washington (AFP) – Donald Trump said Wednesday it was “extremely hard” to reach a deal with China, but EU and US officials touted progress in their own trade talks despite the US president doubling his metal tariffs. Trump’s latest salvos came as ministers from Organisation for Economic Cooperation and Development (OECD) countries gathered in Paris to discuss the outlook for the world economy in light of the trade war.
Trump’s sweeping tariffs on allies and adversaries have strained ties with trading partners and sparked a flurry of negotiations to avoid the duties. The White House has suggested that Trump will speak to Chinese President Xi Jinping this week, raising hopes they can soothe tensions and speed up a trade deal between the world’s two biggest economies. However, early on Wednesday, Trump appeared to dampen hopes for a quick deal.
“I like President Xi of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!” he posted on his Truth Social platform. Asked about the remarks during a regular press briefing, Chinese foreign ministry spokesman Lin Jian said Beijing’s “principles and stance on developing Sino-US relations are consistent.” China was the main target of Trump’s April tariff blitz, hit with levies of 145 percent on its goods and triggering tit-for-tat tariffs of 125 percent on US imports. Both sides agreed to temporarily de-escalate in May, after Trump delayed most sweeping measures on other countries until July 9.
– US-EU talks ‘advancing quickly’ –
Trump’s latest remarks came hours after he increased his tariffs on aluminium and steel from 25 percent to 50 percent, raising temperatures with various partners while exempting Britain from the higher levy. In addition, EU goods will be hit with 50-percent tariffs on July 9 unless the 27-nation bloc reaches a deal with Washington. The EU has vowed to retaliate.
US Trade Representative Jamieson Greer said after talks with EU counterpart Maros Sefcovic in Paris that the negotiations were “advancing quickly.” Greer said the meeting was “very constructive and indicates a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade.” Sefcovic said the doubling of metal tariffs “doesn’t help the negotiations” but the two sides were nonetheless “making progress” in their negotiations.
“We did very much focus on these negotiations, and I still believe in them,” Sefcovic said at a news conference after meeting Greer on the sidelines of the OECD gathering in Paris. He said he was optimistic that a “positive result” could be reached. The US-EU meeting took place a day after the OECD cut its forecast for global economic growth, blaming Trump’s tariff blitz for the downgrade. “We have to keep our cool and always show that the introduction of these tariffs is in no one’s interest,” French trade minister Laurent Saint-Martin said.
After talks between UK Trade Secretary Jonathan Reynolds and Greer on Tuesday, London said that imports from the UK would remain at 25 percent for now. Both sides needed to work out duties and quotas in line with the terms of a recently signed trade pact. “We’re pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs,” a British government spokesperson said.
– White House wants offers –
Mexico will request an exemption from the higher tariff, Economy Minister Marcelo Ebrard said, arguing that it was unfair because the United States exports more steel to its southern neighbor than it imports. “It makes no sense to put a tariff on a product in which you have a surplus,” Ebrard said. Mexico is highly vulnerable to Trump’s trade wars because 80 percent of its exports go to the United States, its main partner.
While some of Trump’s most sweeping levies face legal challenges, they have been allowed to remain in place for now as an appeals process takes place. White House press secretary Karoline Leavitt confirmed on Tuesday that the Trump administration sent letters to governments pushing for offers by Wednesday as the July 9 deadline approaches.
© 2024 AFP
