Washington: American president Donald Trump said on Tuesday that he was not in a hurry to speak with the Chinese leader, Xi Jinping, of the growing trade war between the two countries while the dispute between the two nations began after Trump announced a tariff of 10% on all Chinese imports.
China has imposed targeted prices on American imports on Tuesday and has placed several companies, including Google, in opinion for possible sanctions, in a measured response at Trump prices.
“It’s good,” said Trump in the White House when he asked him about China’s reprisal tasks.
A conversation between XI and Trump is considered a key to softening or potential delay in prices, as conversations with Mexican and Canadian leaders did it on Monday.
White House spokesperson Karoline Leavitt told journalists that a Trump-XI call was still scheduled.
“President XI contacted President Trump to talk about it, perhaps to start a negotiation. We will therefore see how this call is going,” said Leavitt Fox Business Network Earlier Tuesday.
The limited response of Beijing to Trump’s taxation of a 10% rate on all Chinese imports underlined the attempt of Chinese decision -makers to engage Trump in talks to avoid a pure and simple trade war between the two largest economies of the world.
Capital Economics, a research company based in the United Kingdom, estimated that additional China prices would apply to approximately $ 20 billion in annual imports, compared to $ 450 billion in Chinese products subject to tariff Trump who took effect at 12:01 p.m. Tuesday (Tuesday (0501 GMT).
“The measures are quite modest, at least compared to American movements, and have been calibrated to send a message to the United States,” said Julian Evans-Pritchard, head of the company’s economy in China, in a note .
Trump suspended its 25% price threat on Monday on Mexico and Canada on Monday, accepting a 30 -day break in exchange for border concessions and crime application.
Europe then?
Trump suggested on Sunday that the European Union would be its next target for prices, but did not say when.
Ursula von der Leyen, head of the European EU executive commission, said Brussels would be ready for difficult negotiations, but underlined the need to lay foundations for a stronger partnership with the largest trading partner and EU investment.
“We will be open and pragmatic in the way of achieving it. But we will clearly indicate that we will always protect our own interests-however and whenever this is necessary,” she said in a speech.
The European Commission and the new American administration were in contact at the technical level, but Von Der Leyen and Trump have not yet spoken directly, said a spokesperson for the Commission.
The new measures of China, announced as Trump’s prices have taken effect, include a 15% levy from American coal and LNG and 10% for crude oil, agricultural equipment and a small number of trucks as well as Large motor salons shipped to China from the United States.
China said it was starting an anti-monopoly survey on Alphabet Google. He put PVH Corp, the portfolio company for brands such as Calvin Klein and the American biotechnology company Illumina on a list of potential sanctions.
PVH said in a statement that he had been surprised and “deeply disappointed” by China’s decision, adding that it maintains strict compliance with all relevant laws, regulations and standards.
“Illuma has a long-standing presence in China … Wherever Illumina operates, we comply with all laws and regulations,” said a spokesperson for Ilumina in an email.
Google refused to comment on the investigation.
Export controls on certain metals
China said it imposed export controls on certain metals, including tungsten, which are essential for electronics, military equipment and solar panels.
The rights of 10% of China announced on electric trucks imported from the United States could apply to Cybertruck by Elon Musk, a niche offering that Tesla promoted in China. Tesla had no immediate comments.
The new prices of China will not take effect until Monday, giving Washington and Beijing to try to seek an agreement that Chinese decision -makers said that they hoped to reach with Trump as an interior demand for China.
During his first presidential mandate, Trump launched a two-year trade war with China about its American trade surplus, the Tit-For-Tat prices to upset the global supply chains and damage the world economy.
“The trade war is in the early stages, so the probability of new prices is high,” said Oxford Economics in a note when it has downgraded its economic growth forecasts in China.
Trump said that he could further increase prices on China, unless Beijing discovers the fentanyl flow, a deadly opioid, in the United States.
China has called the fentanyl america problem and said it would challenge the World Trade Organization and take other countermeasures, while leaving the door open to talks.
The United States is a relatively small source of crude oil for China, representing 1.7% of its imports last year, worth around 6 billion dollars. Just over 5% of Chinese LNG imports come from the United States.
“Even if the two countries (the United States and China) can agree on certain questions, it is possible to see tariffs used as a recurring tool, which can be a key source of market volatility this year” said Gary NG, senior economist in Natixis in Hong Kong.
There was a relief in Ottawa and Mexico after the Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum declared that they had agreed to strengthen the application of borders, taking a break for 30 days the American tariffs 25% that should take effect on Tuesday.
EU’s head of commerce, Maros Sefcovic, said he wanted the first interviews with the United States to contain potential rates.
“We believe that thanks to constructive commitment and discussion, we can solve this problem,” he said.