On Wednesday, the 7th of August 2019, defending his China tariff further after yesterday’s (August 6th) soothing comments aimed at calming nerve-wracking worries circulating around the financial markets of United States, US President Donald Trump said that his stringent stance on China’s trade behavior would eventually benefit a slowing US economy.
Meanwhile, China seems to have turned a deaf ear to US President, as Beijing had confirmed on Wednesday (August 6th) that the rare-earth-element (REE) rich nation would likely to hit US tech industry by ceasing exports of its REE materials, which in effect would result in a massive chaos and supply chain disruption for the global tech industry.
Addressing to China’s unfair trade behaviors likes of intellectual property transfer protocol for the foreign businesses operating in China alongside a decade-long currency manipulation strategy to ensure higher profit margins for Chinese exporters, US President Donald Trump told to the reporters at the White House on Wednesday (August 7th), “Ultimately, it’s going to go much higher than it ever would have gone, because China was like an anchor on us.
China was killing us with unfair trade deals. " On top of that, Trump was quoted saying that he remained confidence over the strength of US economy despite a worriment market reaction.