Trump says ‘We’re going to make a great deal with China’; claims no one can compete with US
PTC Web Desk: In the midst of rising tensions between the United States and China, US President Donald Trump on Thursday expressed optimism over a potential breakthrough, stating, “I think we’re going to make a great deal with China.”
Speaking to reporters, Trump dismissed concerns that America's allies were moving closer to China. “No, not at all,” he said when asked if the US should be worried. This statement comes just two days after the US imposed a staggering 245% tariff on a range of Chinese imports.
"Nobody can compete with us," Trump said, adding that China is ready to sit down for talks. He also revealed that he had productive discussions with the President of Mexico and met with Japanese business representatives. “Every country, including China, wants to meet with us,” he added.
White House accuses China of backing out of Boeing deal
Earlier this week, the White House accused Beijing of reneging on a significant aircraft purchase deal with Boeing, the American aerospace giant. Trump has reportedly taken a hard stance, asserting that “the ball is in China’s court” and that the US does not need to make concessions to reach a trade agreement.
White House Press Secretary Karoline Leavitt reiterated Trump’s view, stating: “China needs to make a deal with us. We don’t need to make a deal with them.”
China hits back, unfazed by trade war
In response to the 245% tariffs, China said it is unafraid of a trade war with the US and reiterated its call for dialogue. However, Chinese officials slammed the US for “unreasonable pressure tactics.”
Chinese Foreign Ministry spokesperson Lin Jian stated, “If the US truly wants to resolve issues through dialogue, it must stop applying pressure, threats, and blackmail, and instead engage in equal, respectful, and mutually beneficial talks.”
Regarding the specifics of the new tariff structure, Lin declined to comment directly, instead saying: “This tariff war was initiated by the US, not us. We are merely responding. Our actions are legal, reasonable, and in defense of our national rights and the integrity of international trade.”
On Tuesday, reports surfaced that China had directed its state airlines to suspend deliveries of new aircraft from Boeing. Bloomberg reported that Beijing also halted purchases of airplane components and devices manufactured in the US.
This move is viewed as a retaliatory response to the latest round of US tariffs. Boeing, founded in 1916 by William Boeing, is one of the largest aerospace companies globally and a leading American exporter. The company manufactures aircraft, rockets, satellites, telecommunications gear, and defense systems. Many international airlines rely heavily on Boeing planes.
Escalating the economic conflict further, China has also suspended the export of seven critical rare earth metals. These materials are crucial in the manufacturing of cars, drones, robots, semiconductors, and missiles.
The Chinese ports have reportedly been instructed to halt the shipping of these magnet-making materials, which are vital to the global automobile, aerospace, and defense industries. As a result, manufacturing costs worldwide are expected to rise.
On April 4, China had issued an order limiting the export of these rare earth elements. According to the new directive, these strategic materials and their magnetic derivatives can only be exported with special permits.
In a show of economic resilience, China is ramping up support for its domestic industries. The country holds around £600 billion (approximately $760 billion) in US government bonds, giving it leverage over the American economy.
In parallel, China has launched massive stimulus efforts. It has extended $1.9 trillion in additional loans to boost its industrial sector. Companies like Huawei are aggressively expanding their innovation capabilities — the tech giant recently opened a research centre in Shanghai for 35,000 engineers, reportedly 10 times the size of Google’s California headquarters.
- With inputs from agencies
