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US-China Trade Talks Continue at Record High: Trump

WASHINGTON – US and China to negotiate at the highest level in trade talks, steel industry had “revived” as a result of tariff increases ‘last year, Trump said Saturday.
The Trump administration imposed heavy tariffs on imported steel and aluminum goods last March, raising fears of a global trade war.
In the past, China, the world’s second largest economy after the United States, has imposed tariffs equal to zero for billions of dollars of US imports. An agreement reached in November between the two countries on the sidelines of the G20 summit in Argentina postponed the imposition of new customs duties in March.
China has pledged to take steps to increase US imports and investment to meet US demand to reduce the bilateral trade deficit by $ 375 billion. March 1, 2019 is the deadline for the implementation of the measures.
Currently, senior officials from the United States and China are participating in trade negotiations.
Trump told reporters at a press conference at Rose Garden, we have a massive trade negotiation going on with China. President Xi Jinping is very involved; me too. We are dealing at the highest level and we are doing very well, he said.
He further added, in the meantime, we have collected billions and billions of dollars in tariffs from China and other countries. Our iron and steel industry has come back strong, and that makes me very happy.
In November, Trump and Xi met in Buenos Aires.
“China pays us huge fees. We receive billions and billions of dollars of money in the United States Treasury, which we have never received from China. As you know, it’s very unfair,” he said.
Trump said he had a fantastic meeting with President Xi and they love and respect each other.
“One of the things that came out of this meeting was fentanyl. As you know, almost everything comes from China. And he will now criminalize the manufacture of fentanyl. I think that could have a tremendous effect – and I thanked President Xi a lot,” he said.
Trump said his meeting with Xi in Argentina was to last about 45 minutes, but it took almost four hours.
It was a great meeting. We’ll see what happens. You never know with a deal, he said.
We are doing very good. But we are taking billions and billions of dollars and I hope we will reach an agreement with China. If we do not do it, they pay us tens of billions of dollars. It’s not the worst thing in the world, he said.
In response to a question about Apple’s recent announcement, Trump said the US phone maker would be fine.
“Apple manufactures its product in China, which is the biggest beneficiary of Apple, more than US, because they mainly manufacture their product there. But now it is investing $ 350 billion in US, because of what we have done with the taxes and incentives we have created in the United States, he will build a campus and many other places,” added Trump.
(Sahar News Monitoring Desk)

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