China, Donald Trump, United States discussed on The President's Inbox

Automatic TRANSCRIPT

Yes exactly got linked to a lot other issues okay so we had still aluminum tariff that's not worth things and we then have tariffs sixty billion dollars worth against china okay so so the touchstone for president trump has been we the united states run this huge trade deficit that means we're losing in trade we've got to turn that around most of that's china problem we run a three hundred seventy billion dollars third two thirds of the trade deficit with china trump has suggested he wants one hundred billion dollar reduction in that in that trade deficit with china so he has threatened now to impose tariffs and unspecified level could be fifteen percent could be twenty five percent on up to sixty billion dollars worth of chinese imports created a big bombshell you know markets quake the chinese reacted very strongly nothing's been done yet this is this is the sometime over the next few days restrictions going to publish the list saying here the products that we're gonna hit if we go forward with these tariffs they'll then be a consultation period which could last up to two months before any tariffs are actually put into place and throughout that whole period of time they're going to be high level high stakes negotiations between the united states in china over whether they can do a deal to avoid these tariff that's going to be the game for the next while so this is in some senses if i've seen this sort of national geographic videos of of mountain rams before they but heads they actually paw the ground and make a lot of noises that's something about having right now people should have signaling hoping they can avoid confrontation exactly what we're having and just just underscore for listeners how different this is this isn't what happened in trade now for twenty five years in the past the rams would have taken their pieces of paper and handed them over to the other side and then they would have gone to another group of rams and said can you please mediate this dispute and let us work it out and now they really are on the ground and putting their heads down and seeing which one is going.

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