Trump heightens pressures on China, threatens tariff hikes

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Trump heightens pressures on China, threatens tariff hikes

On Sunday, the 5th of May 2019, the US President Donald Trump had histrionically ratcheted up pressure on China to speed up a trade deal, saying that he would hike US tariff on $200 billion worth of Chinese goods this week and point his gun-barrel towards hundreds of millions of Chinese imports soon, which simply had stunned the global market, given latest headlines of Sino-US trade talk progress.

On Sunday’s (May 5th) speech, US President Donald Trump remained as unpredictable and controversial as usual, as it had been only two days since he had cited progress and expressed through-and-through optimisms on trade talks.

Meanwhile, US Treasury’s Mnuchin had also been quoted saying over this weekend that a trade deal with China could be announced as early as next weekend, however, questions were raised on what actually had changed ahead of next round of trade round of trade talks between US and China scheduled to begin on Wednesday (May 8th).

More critically, a Wall Street Journal report had revealed shortly after Trump’s threat on imposing tariff on $200 billion worth of Chinese goods, that, China had been contemplating a cancellation of this week’s trade talks in light of Trump’s latest comments, which had caught Chinese officials by surprise and exacerbated worries over the global market amid steep slowdown signs.