Trump threatens to renew trade attack on China

Trump threatens to renew trade attack on China

U.S. President Donald Trump has threatened to renew trade attack on China after he called the nation “cheaters”.

“No one has manipulated or taken advantage of the United States more since China’s entrance into the World Trade Organization.” Trump said on Tuesday night at the Economic Club of New York.

“I will not say the word ‘cheated,’ but nobody’s cheated better than China, I will say that,” the president said, threatening that the U.S. would “substantially” increase tariffs on China if no deal is reached.

“If we don’t make a deal, we’re going to substantially raise those tariffs,” he said. “They’re going to be raised very substantially. And that’s going to be true for other countries that mistreat us too.”

Trump and Chinese President Xi Jinping were expected to sign “phase one” of a trade deal this month at an international conference in Chile which was cancelled due to the social unrest in the country.

While a new site for the signing has yet to be announced to the public, speculations that locations in Asia or Europe are being considered as the White House ruled out areas in the U.S.