No hurry to strike trade deal with China: Trump

President Trump feels there is no need to get into a deal agreement with China before the 2020 presidential elections. His indication was towards complete deal and not a partial one.

For more than a year the two largest economies have been locked into a trade war and United States imposed tariff hikes of up to 25 percent last year on $250 billion of Chinese goods.

Beijing retaliated and imposed tariffs on $10 billion of goods imported from United States.

Briefing to the media on Friday the president added he is looking for a big deal with China and not a partial deal, at least not before the presidential election.

Deputy-level negotiators from both the countries met on Thursday and Friday to discuss on trade relationship that has been productive. Principal-level meetings will be held in October in United States.

Trump claims currently the Chinese economy is very bad as the country had earlier devalued its currency and pumped in lot of money.

He said, “I don’t want them to have a bad economy, but it is the worst they say 57 years.”

Just two weeks before Trump said the country’s economy was worst in 22 years.

Trump further claims the supply chain of China has been broken badly and companies are detaching as paying 30 percent tariff has become impossible.