The U.S.-Chinese trade relationship took many twists and turns this past week. Early in the week, President Trump addressed the trade relationship with China in a White House news briefing. “Look, I have a great relationship with President Xi, but sometimes he gets testy because China likes to take advantage of people,” said Trump. “We have a fair relationship with China, and I think it’ll be fine, and if it’s not, that’s okay too.” Beginning November 1, Trump threatened to impose 100 percent tariffs on Chinese imports in retaliation for new Chinese restrictions on rare earth minerals. By Friday, Trump said China forced him to take the aggressive stance and the 100 percent tariff rate was “not sustainable” for either country. Before trade talks can resume with China, Trump has a list of demands; China must take action on rare earth minerals, fentanyl and soybeans. Trump told reporters he believes a deal can still be made with China, but he wants to make sure their purchases amount to what they’ve bought before. Trump did indicate he would meet with Chinese President Xi at the Asia-Pacific Economic Cooperation summit at the end of this month.
