President notes his tariff policies have hurt the Chinese economy
US President Donald Trump has noted that his tariff policies have hurt the Chinese economy before adding that he has “a lot more to do” to the country.
Speaking to Fox News, Trump insisted US tariffs on Chinese goods are having a “big impact” and that Chinese have lived too well for too long.
Trump’s trade war against Chian began in January 2018 when he began imposing tariffs on hundreds of billions of dollars worth of Chinese imports.
According to RT: On Wednesday, FBI director Christopher Wray said that China represents the “broadest, most complicated, most long-term” threat to the US and that it is waging a massive influence campaign over American voters ahead of the November midterm elections.
Wray said that China was trying “to get secret information about our trade, our ideas, and innovations” using “an expanding set of unconventional methods each time to achieve their goals” and warned that economic espionage from China would affect companies in all sectors of the US economy.
The US has also slapped sanctions on the Chinese military industry over its cooperation with Russia.
Beijing has shown less interest in pursuing a adversarial relations with the US, but has warned that there will be “consequences” if it did not remedy the “mistake”.
China put a stop to the import of Crude oil from America as the escalating trade war between the countries seemingly turned nasty.
Despite the oil not being included in the list of bilateral tariffs, Chinese refiners have avoided buying crude from the US.
“We are one of the major carriers for crude oil from the US to China.
Before [the trade war] we had a nice business, but now it’s totally stopped,” Xie Chunlin, the president of CMES, said on the sidelines of the Global Maritime Forum’s Annual Summit in Hong Kong, as quoted by Reuters.
“It’s unfortunately happened, the trade war between the US and China. Surely for the shipping business, it’s not good,” the CMES president said.