Washington intends to significantly increase duties on goods from China if the parties fail to reach trade agreements. This was announced on Tuesday by US President Donald Trump during a speech at the Economic Club of New York.
“If we do not conclude a deal, we will substantially increase these duties,” Trump said. “The increase will be very significant. And the same is true for other countries that have acted unfairly towards us,” he added.
The US president also drew attention to the fact that Washington and Beijing earlier this year were already close to concluding a trade agreement. According to Trump, then the Chinese side refused to comply with some of the agreements reached earlier.
During the speech, Trump noted that the United States and China may soon conclude an agreement as part of the first stage of the settlement of trade disputes. “A significant first stage in trade agreements with China can be implemented. It can happen soon,” he said. “But we will only agree to a deal if it is beneficial to the United States, our workers and our excellent companies,” the American leader added.
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