Key Words: Trump: ‘I have no interest’ in trade deal until China reverses its stance

President Donald Trump said Tuesday that he won’t proceed with new trade talks with China unless Beijing agrees to terms previously agreed upon.

“We had a deal with China and unless they go back to that deal, I have no interest.”

President Donald Trump

Speaking to reporters outside the White House before leaving for a trip to Iowa, Trump made it clear that he won’t budge without “a great deal,” and accused Chinese officials of reneging on promises made at earlier negotiations.

“China wants to make a deal very badly,” Trump said. “It is me right now that is holding up the deal. And we’re going to either do a great deal with China or we’re not going to do a deal.”

“We had a deal with China and then they went back on the deal,” Trump said. “They said we don’t want to have four major points, five major points.” He did not specify what those points of contention were.

Trump’s comments came a day after he threatened to raise tariffs to 25% on $300 billion of Chinese imports if China’s President Xi Jinping doesn’t meet with him at the upcoming G-20 summit in Japan. “Tariffs are a beautiful thing,” Trump told CNBC on Monday, arguing that tariffs will eventually force China to make a trade deal.

Read: Mulvaney expects Trump-Xi meeting won’t be a ‘deal closer’

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