Donald Trump claims trade talks with China ‘doing very well’

The US President said that trade talks with China are going well and that Beijing is eager to get a deal done.

President Donald Trump said on Thursday that the trade talks between the US and China were progressing smoothly and that the world’s two largest economies were the brink of securing a deal.

‘China would love to make a deal with us,’ Trump told reporters outside the White House while on route to deliver a commencement speech at the US Air Force Academy in Colorado. ‘We had a deal and they broke the deal. I think if they had it to do again they wouldn’t have done what they did.’

US imposed tariffs on China sees manufacturers relocate, Trump says

Trump has also claimed that tariffs imposed on China have led to manufacturers leaving the country in favour of greener pastures in other nations.

‘China is subsidizing products, so the United States taxpayers are paying for very little of it,’ Trump said. ‘I think we’re doing very well with China,’ he added.

Investors grow concerned that US-China trade talks are heating up

The latest cause of concern for investors in the escalating trade war between the US and China came when Chinese officials signalled that they were prepared to restrict exports of rare earth metals, with the country controlling a dominate position in that market.

‘China is the world’s biggest producer of these highly-prized raw materials and is poised to use them as leverage in its trade spat with Washington,’ London brokerage PVM told Reuters.

The move by Beijing was in response to Trump’s administration imposing additional charges on more than $200 billion worth of Chinese goods.

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