In his view, the new tariffs against China threatened by US President Donald Trump are economically unsustainable.
Asked whether the overall cumulative tariff rate of 157 percent was sustainable for the economy and what it meant for it, he said: “It’s not sustainable, but that’s what the number looks like.” This is not sustainable for the economy, but his plan could still work, Trump said in an interview with the US television channel Fox News, which the channel published in advance on X. He claimed that China “forced” him to do so.
Last week, Trump threatened extra tariffs of 100 percent on Chinese imports to the USA from November 1st and further export controls on software exports to the People’s Republic. Beijing had previously announced that, among other things, it wanted to expand its export controls on rare earths. Companies will then need a permit to export 12 of the 17 metals that are important for the industry. Depending on the measure, the entry into force falls in November or December.
A meeting between Trump and Chinese President Xi Jinping in South Korea, which was most recently scheduled for the end of October, is eagerly awaited. In an interview with Fox News, the US President confirmed: “We will meet in a few weeks.”