US President Donald Trump called on American manufacturers to return their product to the country and abandon China. He wrote about it on his Twitter.
“Our country has been foolishly losing trillions of dollars to China over the years. They stole our intellectual property, which cost billions of dollars every year, and they want to keep doing that. I will not let this happen,” the American leader said.
Trump added that the US “does not need China” because the country is “much better without it.” In addition, the American leader intends to introduce additional customs duties on imported goods from China during the day.
Earlier, Beijing announced the introduction of additional retaliatory duties in the amount of 5 and 10 percent on US imports of 75 billion dollars. They will come into force at the same time as the new US sanctions — September 1 and December 15 this year.
The trade confrontation between the two largest economies of the planet started in 2018. Trump promised to achieve fair trade with China during the election campaign of 2016. The main weapon Washington has chosen trade duties. According to the head of the White House, the US has an advantage in imports and can not lose. In 2018, China imported goods from the US worth about $ 180 billion, which is less than the volume of US sanctions.