Trump defends tariff threat against Mexico, calls it 'beautiful thing'

Trump defends tariff threat against Mexico, calls it 'beautiful thing'

Trump defends tariff threat against Mexico, calls it 'beautiful thing'

"I think he's going, I havent heard that he's not". He's actually an incredible guy, he's a great man, very strong and very smart.

Washington and Beijing are negotiating a trade deal after the White House accused China of intellectual property theft and employing unfair trade practices.

Last week, Powell helped fuel a rally in the stock market by holding out the possibility that the Fed will soon cut rates to protect the economic recovery from any damage resulting from Trump's trade wars.

On a call with CNBC's "Squawk Box," Trump discussed the trade war and the Chamber of Commerce, which has been critical of the president's trade positions.

When asked if he viewed Chinese telecom giant Huawei as a national security threat or leverage in trade negotiations with China, Trump said it could be both.

Refreshing other familiar themes of frustration, Trump said the Fed "certainly didn't listen to me because they made a big mistake". "At the same time, it could be very well that we do something with respect to Huawei as part of our trade negotiations with China". China very much wants to make a deal. We got everything we wanted. "He can do whatever he wants", said Trump, who has named three of the five Fed board members to their posts, including Powell.

G-20 finance ministers meeting in Fukuoka, Japan, over the weekend said trade and geopolitical conflicts are risking global economic growth, but at the USA insistence, dropped a call to "recognize the pressing need to resolve trade tensions".

He said: "Tariffs are a handsome thing when you're the piggybank, when you have all the money". "They build a auto in China and they sent it into the United States".

President Donald Trump complained Monday that President Xi Jinping enjoys a major advantage in the U.S.

On June 9, U.S. Treasury Secretary Steven Mnuchin told CNBC at the end of the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka, Japan, that if no progress is made on the stalled trade talks, the president would not hesitate to enact further tariffs.

China reported on Monday its exports unexpectedly grew 1.1 percent in May from a year ago despite the higher USA tariffs, but imports fell the most in almost three years.

Mr Trump said his administration is taking "35 percent to 40 percent" of Chinese goods coming into the US.

Trump, in the interview, said he thought that the regime would "make a deal because they're going to have to make a deal".

Trump meanwhile again hinted that part of the deal he struck with Mexico is not yet public. But he added that he expected his Chinese counterpart would attend.

"With Mexico, what's going to happen is all the companies would immediately move into the United States".

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