Enforceability is going to be critical to any potential future trade deal.
U.S. President Donald Trump disclosed, the United States was doing well in trade talks with China and that Beijing wants to make a deal with Washington.
“China would love to make a deal with us. We had a deal and they broke the deal. I think if they had it to do again they wouldn’t have done what they did,” said Trump to reporters as he left the White House to deliver a commencement speech at the U.S. Air Force Academy in Colorado.
He went to add, U.S. tariffs on Chinese goods have prompted many manufacturers to remove China from their supply chain and relocate their manufacturng to other nations.
“China is subsidizing products, so the United States taxpayers are paying for very little of it,” said Trump while noting that tariffs had little impact on inflation.
“I think we’re doing very well with China.”
Earlier this month, the U.S-China trade war saw a sharp escalation after Washington accused China of having “reneged” on its previous promises to make structural changes to its economic practices.
Following this, the United States imposed additional tariffs of up to 25% on $200 billion of Chinese goods.
Beijing also retaliated to the U.S. move.
Earlier, U.S. Treasury Secretary Steven Mnuchin had said he is likely to travel to Beijing “in the near future” so as to to continue negotiations.