Gold prices edge lower; heading for weekly losses ahead of U.S.-Russia talks
Investing.com-- U.S. President Donald Trump said on Wednesday that a trade deal with China was possible, even as his recent tariffs against the country sparked increased tensions with Beijing.
Speaking to reporters aboard Air Force One, Trump said it was “possible” to ink a new trade deal with China.
His comments came after Trump imposed 10% tariffs on all Chinese imports earlier this month. The move drew ire and retaliatory trade measures from Beijing.
Trump also raised the prospect of 25% tariffs on lumber imports to the U.S., a move that will likely cover some imports from China, which is the second-largest provider of wood to the U.S., behind Canada.
Earlier on Wednesday, Trump said at a Miami convention that his 25% duties on automobiles, pharmaceuticals and semiconductor imports will be imposed within the month.
The 47th U.S. President has threatened and imposed a slew of tariffs in his first month in office, as he looks to push a U.S.-centric trade agenda. Trump has also wielded tariffs to further his stance on immigration, having threatened Canada and Mexico with steep duties for better border security.
Trump recently threatened to impose reciprocal tariffs against major U.S. trading partners, criticizing what he considers to be unfair trading practices.