Trump says China’s vice premier coming to US to ‘make a deal’

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President Trump said on Wednesday that China “just informed” the White House that a team — including Vice Premier Liu He — is coming to the U.S. to strike a trade deal.

“We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China!” the president wrote in a tweet.

Dow futures pared losses on the tweet, just one day after a market sell-off that was triggered by earlier tweets from the president concerning the pace of U.S.-China trade negotiations

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Although the Chinese were set to bring a 100-person delegation to the U.S. this week, the trade talks were thrown into limbo after Trump threatened on Sunday to slap an additional 25 percent tariff on $325 billion worth of Chinese goods.

The U.S. already imposes a 10 percent tariff — which is set to rise to 25 percent on Friday, Trump said in a tweet — on $200 billion of goods and a 25 percent tariff on $50 billion of tech products.

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Trump, however, said on Wednesday that real reason for the pullback was hope among the Chinese that they could hold off on negotiations on the chance that a Democrat wins the 2020 presidential election.

White House officials have stressed that both sides are eager to wrap up talks; last week, Treasury Secretary Steven Mnuchin told FOX Business that although they still had “more work to do,” enforcement mechanisms were “close to done.”

“If we get to a completed agreement it will have real enforcement provisions,” he said at the time.

Source: Fox Business

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