US President Donald Trump said his proposed 100% tariff on China’s products would not be sustainable, but blamed China for the latest impasse in trade talks, which began when Beijing tightened controls on its rare earths exports.
Asked whether such a high tariff would be sustainable and what it could do to the economy, Trump replied: “It’s not sustainable, but that’s the number.”
“They forced me to do it,” he said in a Fox Business Network interview broadcast Friday.
FREE LIST
10 small caps to invest in
The list of stocks from promising sectors on the Stock Exchange
Trump unveiled 100% additional duties on China’s exports to the US a week ago, along with new export controls on “any and all critical software” until November 1, nine days before existing tariff relief expires.
The new trade measures were Trump’s reaction to China’s expansion of export controls on rare earth elements. China dominates the market for such elements, which are essential for manufacturing technology.
Trump also confirmed that he will meet with Chinese President Xi Jinping in two weeks in South Korea – a meeting he had cast doubt on last week – and expressed admiration for the Chinese leader.
Continues after advertising
“I think we’re going to get along fine with China, but we have to have a fair deal. It has to be fair,” Trump said on FBN’s “Mornings with Maria,” which was taped on Thursday.
