WASHINGTON, Sept 4 (NNN-AGENCIES) — Amid fresh signs his trade wars are rattling the US economy, President Donald Trump sent stern warnings to China, urging the Pacific power not to drag its feet in trade negotiations.
After a month of escalations in the year-long battle with Beijing, Trump sent a Twitter blitz saying Chinese negotiators may be holding out for a better deal in hopes he will be voted out in next year’s presidential elections.
The latest invective from the White House ended the more conciliatory tone struck last week by both sides, which had helped soothe markets.
“While I am sure they would love to be dealing with a new administration … 16 months PLUS is a long time to be haemorrhaging jobs and companies,” Trump said, claiming China’s deteriorating economy could ill afford to wait.
“And then, think what happens to China when I win. Deal would get MUCH TOUGHER!”
While Trump pointed to China’s weakening economy, a survey showed on Tuesday that the US manufacturing sector – which Trump has long championed – had contracted last month for the first time in three years.
The grim results for the US manufacturing sector were only the latest sign of softening US economy, which has seen slower hiring and a sharp drop off in investment by businesses.
Forecasts still call for growth of about two percent in the third quarter, however.
Chinese state media reported on Tuesday that Republican Senators Steve Daines and David Perdue had met in Beijing with Vice Premier Liu He, China’s top negotiator in the trade talks.
Liu said China hoped for a negotiated resolution based on “equality and mutual respect,” according to Xinhua.
US and Chinese negotiations are due to resume this month after a sharp deterioration in the year-long trade war in August. — NNN-AGENCIES
