By Jon Dougherty
(NationalSentinel) President Donald Trump on Monday sounded upbeat about renewed trade talks with China as the world’s two biggest economies continue exchanging tariff hikes, saying he doesn’t believe Beijing has any other option but to negotiate.
“China wants to make a deal. And I tell this to President Xi [Jinping] who I really respect … I told him very strongly, I said ‘Look, you’re making $500 billion a year and stealing our intellectual property…We can’t make a 50-50 deal … If it’s not better, I don’t want to do business,” Trump said over the weekend.
As Chinese officials publicly called for “calm” negotiations and spoke with White House aides directly, the president said he believes his pressure tactics are beginning to show signs of success.
“I don’t think they have a choice,” the president said at a press conference with French President Emmanuel Macron in Biarritz, France. “I think they want to make a deal very badly.”
Some analysts have suggested that China is stalling in the hopes that Trump will be defeated next year and things will return to Beijing’s version of ‘normal.’ But as the president suggested, it may be that Beijing can’t wait that long, as economic indicators are turning negative and millions of Chinese workers lose jobs. (Related: Wave of BAD economic data for China prove NeverTrumpers wrong: Tariffs are working)
There are also indications that Trump is prepared to take extraordinary measures given China’s reluctance to make a deal. He mentioned invoking a 1977 law, the Economic Emergency Powers Act, that would give him authority to sever all economic ties with China and order American companies out.
Still, the president appears more positive than negative, even given the addition of new tariffs that are set to take effect in the coming weeks.
“One of the reasons that he’s a great leader, President Xi, and one of the reasons that China is a great country is they understand how life works,” he said during the summit on Sunday.
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