US President Donald Trump attacked his successors Joe Biden and Barack Obama on Thursday, calling them” stupid” and “incompetent” for failing to confront China earlier over trade issues.
” I just picked the Resolute Desk, but I blame the people who are seated behind it for being foolish, inept, and lacking in confidence. In response to a multimedia question about the continuing trade war with China, Trump said,” This should have been done years ago—before Obama, before Biden.
Trump even claimed that China is “owned and paid for by China” and that the World Trade Organization favors it.
He criticized China’s decision to label it a developing country, saying,” They said they were a developing country. If you take into account that we are a developing country,
Donald Trump also announced a 90-day ice on severe fresh tariffs for most American trading partners, but he only spoke to China, which he had targeted with a rough 125 % tax on all imports. Less than 24 hours after extensive duties caused volatility in world markets, the White House made its decision.
Trump’s sharp increase in the US-China business war was a momentary relief for allies, despite receiving a temporary one. According to state-run Xinhua, China immediately retaliated by imposing 84 % tariffs on American products.
Additionally, the administration’s ominous advice to other nations reads,” Do never fight and you will be rewarded.” As markets reacted to the rapid policy change, it appeared that the warning was intended to deter further global backlash.
Beijing, yet, held its surface. The new US taxes were condemned by China’s Commerce Ministry as a violation of international standards and pledged to support national interests. A department official said that” there is no champion in a trade war” and that the Chinese government would not stand by while the country’s citizens suffered or lost their legitimate rights.
Time after a director warned that the US was undermining the “legitimate passions of all countries,” the hostile Chinese tariffs went into effect on Thursday at noon.
