Business & Real Estate

Trump says China will be ‘hurt very badly’ if no trade deal

In this May 8, 2019, photo, President Donald Trump speaks at a rally in Panama City Beach, Fla. Trump’s combative approach to trade has been one of the main constants among his often-shifting political views. He’s showing no signs of backing off now even as the stakes intensify with the threat of a full-blown trade war between the world’s two biggest economies.
In this May 8, 2019, photo, President Donald Trump speaks at a rally in Panama City Beach, Fla. Trump’s combative approach to trade has been one of the main constants among his often-shifting political views. He’s showing no signs of backing off now even as the stakes intensify with the threat of a full-blown trade war between the world’s two biggest economies. AP Photo

President Donald Trump is warning Chinese President Xi Jinping (shee jihn-peeng) that China "will be hurt very badly" if they don't agree to a trade deal.

Trump tweeted Monday after the countries failed to reach a deal in recent talks. The Trump administration has raised tariffs on $200 billion of Chinese imports after charging that China had backtracked on commitments it made in earlier negotiations.

Trump tweeted China "had a great deal, almost completed, & you backed out!"

Trump insisted the tariffs the U.S. has placed on Chinese goods don't hurt American consumers, saying there is "no reason for the U.S. Consumer to pay the Tariffs."

White House economic adviser Larry Kudlow acknowledged Sunday that U.S. consumers and businesses pay the tariffs. "Both sides will pay," he told Fox News.

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