Trump says China ‘not stepping up’ in trade talks making him reluctant to strike deal
- US president ‘looking at’ exempting Apple from China tariffs, he says during tour of computer manufacturing facility
- Wall Street retreats further from record highs as pessimism mounts over likelihood of agreement to end trade war
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“I don’t think they’re stepping up to the level that I want.”
Wall Street retreated further from record highs on Wednesday as pessimism mounted among investors about the chances for a deal to bring an end to the lingering trade dispute.
Trump on October 11 announced a “phase one” deal resolving important US grievances about Chinese trade and currency practices.
But more than a month later, the two sides appear no closer to finalising the text of any agreement.
China has insisted on a rollback of existing tariffs, which Trump said he has not agreed to. American officials want large purchases of US farm exports, which may be unworkable for Beijing.
Trump said he is “looking at” exempting Apple from the China tariffs, but said it might be unfair to Samsung given the US free trade deal with South Korea.
Apple’s iPhone 11 scores early China success, official data shows
“We have to treat Apple on a somewhat similar basis as we treat Samsung,” Trump said.
Chinese officials also denounced legislation adopted by US lawmakers this week supporting protection of human rights in Hong Kong, which has been convulsed by protests this year against Beijing’s attempts to exert greater control.
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