Logo of Phnom Penh Post newspaper Phnom Penh Post - Trump turns up the heat in trade conflict with China

Trump turns up the heat in trade conflict with China

Content image - Phnom Penh Post
A motorist drives past shipping containers in Long Beach, California. J BROWN/AFP

Trump turns up the heat in trade conflict with China

President Donald Trump threatened Friday to slap tariffs on all of the Chinese goods imported into the US, ramping up the already tense trade relations with Beijing amid ongoing talks with Canada and the EU.

His comments, which contradicted the more diplomatic remarks earlier Friday from his top economic adviser, sent the stock market plunging amid fears of the economic damage that could result from the multi-front trade war he pursues.

The US already has punitive tariffs on $50 billion in Chinese goods in place and another $200 billion are “in the hopper” and “could take place very soon,” Trump said.

But he told reporters travelling with him to Fargo, North Dakota that “behind that, there’s another $267 billion ready to go on short notice if I want.”

That would cover virtually all the goods imported from the world’s second largest economy.

“That totally changes the equation,” Trump said.

White House economic adviser Larry Kudlow just hours before said talks with Beijing were continuing to try to defuse the conflict, and that he was hopeful that a solution could be found.

And there have been more positive signs in talks with North American partners as well as with the European Union.

US Trade Representative Robert Lighthizer held another day of meetings with Canada’s Foreign Minister Chrystia Freeland on a rewrite of the North American Free Trade Agreement, after reaching a deal last week with Mexico.

However, Freeland left Washington without a deal in hand and the schedule for any future talks was uncertain.

Lighthizer is due to meet Monday in Brussels with EU Trade Commissioner Cecilia Malmstrom.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Hun Sen: Lakes filled in for national developments

    Prime Minister Hun Sen has announced continued operations to fill some lakes in Phnom Penh to create land for developments, though he is against the unrelated practice of damming rivers or blocking waterways. Speaking at the inauguration of the Ministry of Public Works and Transport

  • Koh Preus upgrades 70% complete

    Initial construction of a nearly $30 million tourism infrastructure project on Preah Sihanouk province’s Koh Preus Island is “about 70 per cent complete”, according to an official with the developer. Heng Thou, construction site manager of Angela Real Estate Co Ltd (ARE), told The Post that

  • Local media loses a giant, and The Post a great friend

    Cheang Sokha, a gifted and streetwise reporter who rose to the highest ranks of Cambodian media and was beloved for his sharp intelligence, world-class humour and endless generosity, died on Friday in his hometown of Phnom Penh. He was 42. His wife, Sok Sophorn, said he