Trump says U.S. ‘not ready’ to make trade deal with China

  • Friday 09, August 2019 10:00 PM
  • Trump says U.S. ‘not ready’ to make trade deal with China
Sharjah 24 – Reuters: U.S. President Donald Trump said on Friday that he was not ready to make a trade deal with China and had decided that the United States would not do business with Chinese telecoms giant Huawei Technologies for the time being, prompting U.S. stocks to fall sharply.
Trump, speaking to reporters at the White House, also called into question whether another round of scheduled talks would take place in early September. He plans to impose 10% tariffs on a final $300 billion worth of Chinese imports around that time.

"We're doing very well with China. We're talking with China. We're not ready to make a deal - but we'll see what happens," Trump said before departing for fundraisers on Long Island, New York.

"China wants to do something, but I'm not ready to do anything yet. Twenty-five years of abuse - I'm not ready so fast, so we'll see how that works out." the president added.

Trump's comments fanned fears on Wall Street that the world's two largest economies were digging in for a longer and costlier trade war, causing major stock indexes to extend losses to more than 1%.