U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China’s economy further, showing no signs of backing off an escalating trade war with Beijing.
President Donald Trump said Tuesday that he does not like the Federal Reserve’s decision to continue to hike interest rates.
He also said that the United States economy does not have an inflation problem and that the central bank is moving too quickly in trying to curb price increases.
Trump imposed tariffs on nearly $200 billion of Chinese imports last month and then threatened more levies if China retaliated. China then hit back with tariffs on about $60 billion of U.S. imports.
“It’s had a big impact,” Trump said in a Fox News interview. “Their economy has gone down very substantially and I have a lot more to do if I want to do it.
“I don’t want to do it, but they have to come to the table.”
However, Trump said the Chinese want to negotiate but he does not believe they are ready and he told them so. He blamed previous U.S. presidents for allowing China to pursue unfair trade practices and said he had to tell Beijing, “It’s over.”