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| US-China trade talks to restart soon, Beijing wants both back at negotiating table - Trump | US-China trade talks to restart soon, Beijing wants both back at negotiating table - Trump |
| (about 5 hours later) | |
| The US President said Chinese officials got in touch with Washington over the ongoing trade war, calling for both sides to get back to negotiating a deal. Speaking at the G7 summit, Trump welcomed the development. | The US President said Chinese officials got in touch with Washington over the ongoing trade war, calling for both sides to get back to negotiating a deal. Speaking at the G7 summit, Trump welcomed the development. |
| He said that “China called last night our top trade people and said ‘Let’s get back to the table.’ So, we will be getting back to the table and I think they want to do something.” | He said that “China called last night our top trade people and said ‘Let’s get back to the table.’ So, we will be getting back to the table and I think they want to do something.” |
| The US president added: “They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world.” | The US president added: “They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world.” |
| The US will start negotiations shortly, Trump said. | The US will start negotiations shortly, Trump said. |
| Washington and Beijing were getting along very well and were talking, the US leader said on Saturday. He noted: “I think they want to make a deal much more than I do. I’m getting a lot of money in tariffs, it’s coming in by the billions. We’ve never gotten 10 cents from China, so we will see what happens.” | Washington and Beijing were getting along very well and were talking, the US leader said on Saturday. He noted: “I think they want to make a deal much more than I do. I’m getting a lot of money in tariffs, it’s coming in by the billions. We’ve never gotten 10 cents from China, so we will see what happens.” |
| On Friday, Trump tweeted that duties on $250 million worth of Chinese goods already taxed at 25 percent will increase to 30 percent starting on October 1. He also said additional tariffs on another $300 billion of Chinese goods, which come into effect on September 1, will now be 15 percent instead of 10 percent. | |
| The announcement followed Beijing’s vow to hike levies on $75 billion worth of US exports and to resume 25 percent tariffs on American automobiles. | |
| Earlier, China had urged Washington not to go through with its threat of tariffs, in order to avoid a further escalation of the trade war between the world’s two largest economies. | Earlier, China had urged Washington not to go through with its threat of tariffs, in order to avoid a further escalation of the trade war between the world’s two largest economies. |
| At the G-7 summit, Trump said on Sunday that he could declare the escalating US-China trade war as a national emergency if he wanted to. “In many ways, this is an emergency,” he said. | At the G-7 summit, Trump said on Sunday that he could declare the escalating US-China trade war as a national emergency if he wanted to. “In many ways, this is an emergency,” he said. |
| “I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year, and when we have a total loss of almost a trillion dollars a year for many years,” Trump said. He added that he had no plan right now to call for a national emergency. | “I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year, and when we have a total loss of almost a trillion dollars a year for many years,” Trump said. He added that he had no plan right now to call for a national emergency. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |