US President Donald Trump has once again complained about "STUPID TRADE" with China and does nothing to please investors for the attack on the escalating trade dispute between the two major powers.
Trump said in a tweet Monday morning that when a Chinese manufactured vehicle is shipped to the United States, the fare is only 2.5%, while US cars exported to China are hit by 25%. Rate.
Trump asked: "Sounds like free or fair trade." Then answered: "No, it looks like STUPID TRADE."
China charges a total duty of 25% on most imported cars – a 10% tariff plus a 15% car fee. Since December 2016, Beijing has also charged another 10 percent on "super-luxury" vehicles with a price of over 1.3 million yuan ($ US200,000).
Trump's top economic advisors have offered mixed messages about the best approach with China. Beijing has threatened to repay if Washington follows its suggested tariffs, although Trump emphasized his ties with Chinese President Xi Jinping.
"President Xi and I will always be friends no matter what happens to our trade dispute" Trump tweeted on Sunday. "China will abolish its trade barriers because it's the right thing to do. Taxes become mutual and agreement will be reached on intellectual property. A great future for both countries!"
But Trump did not explain why, in the midst of a week of economic saber rattling between the two countries that shook global markets, he felt confident that an agreement could be reached.
At the same time, his top economic adviser said Monday, Trump may be open to form an international coalition to seize Chinese trade issues, adding that it was still unclear whether the proposed US tariffs on China would ultimately realize.
Asked if Trump would consider seeking support from European nations, Japan and others, White House National Economic Council Director Larry Kudlow told CNBC: "The president is acceptable for it. He may not be looking for support yet, but he is acceptable. "