Trump: China tariffs will remain for 'substantial period of time' even with deal

Trump: China tariffs will remain for 'substantial period of time' even with deal
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President TrumpDonald John TrumpStates slashed 4,400 environmental agency jobs in past decade: study Biden hammers Trump over video of world leaders mocking him Iran building hidden arsenal of short-range ballistic missiles in Iraq: report MORE said Wednesday that he will maintain tariffs on Chinese imports even if he strikes a trade deal with Beijing.

Trump told reporters Wednesday that he will keep import taxes on billions in Chinese goods to make sure China complies with a potential agreement to reduce trade barriers. 

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“We’re not talking about removing them,” Trump said at the White House. “We’re talking about leaving them for a substantial period of time because we have to make sure that if we do the deal with China, that China lives by the deal.

“They’ve had a lot of problems living by certain deals and we have to make sure,” Trump continued.

Trump’s comments come days before Treasury Secretary Steven MnuchinSteven Terner MnuchinHillicon Valley: House passes anti-robocall bill | Senators inch forward on privacy legislation | Trump escalates fight over tech tax | Illinois families sue TikTok | Senators get classified briefing on ransomware On The Money: Falling impeachment support raises pressure for Dems on trade | Trump escalates fight over tech tax | Biden eyes minimum tax for corporations | Fed's top regulator under pressure over Dodd-Frank rules Mnuchin raises concerns over global talks on taxing digital economy MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerPelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House On The Money: Economy adds 164K jobs in July | Trump signs two-year budget deal, but border showdown looms | US, EU strike deal on beef exports MORE travel to China in hopes of finalizing a tentative deal.

The Trump administration is seeking pledges from Beijing to increase purchases of U.S. crops, halt alleged theft and forced transfers of American intellectual property, and expand foreign access to Chinese financial markets.

Trump has imposed 25 percent tariffs on $50 billion in Chinese imports and a 10 percent tax on $200 billion in goods from the country to increase leverage over Beijing in trade talks.

China is seeking the removal of both sets of tariffs, and Trump did not specify whether he'd keep both sets or just one of them.

“We’re taking in billions and billions of dollars right now in tariff money and for a period of time that will stay,” Trump said of the tariffs on Chinese goods, which are paid by importers but critics say add to prices when sold in the United States.

The president has signaled optimism about a trade deal with China for several months and has repeatedly said an agreement would be finalized “soon.”

“The deal is coming along nicely,” Trump said Wednesday. “We’re getting along with China very well. [Chinese] President Xi [Jinping] is a friend of mine.”

It’s unclear how close the U.S. and China truly are to striking a deal, and some of Trump’s top aides have warned lawmakers that holding Beijing to the pact could be lengthy and difficult.

“We might be able to have an agreement that helps us turn the corner in our economic relationship with China,” Lighthizer told lawmakers in February.

But he warned that “there’s not going to be one negotiation” that fixes the U.S.-China trade dynamic.