Trump Says He May Upset China Over Trade Action in Coming Weeks

China urges U.S. to make 'wise choice' on trade tariffs

The North Korean leader Kim Jong Un reached Singapore on a Chinese plane for his summit with US President Donald Trump and returned with a prized concession for Beijing, in form of suspension of US-South Korean war games.

The president is due to meet on Thursday with the White House's senior trade advisers and treasury representatives to finalise plans.

If the U.S. and China descend into tit-for-tat tariffs, investors will become increasingly nervous about the prospect of a protracted trade dispute that will result in a drag on global growth, said Mr Michael Every, head of financial markets research at Rabobank Group in Hong Kong.

"We have a channel that's independent of China now", he said. A recent study by Purdue University economists predicts that soybean exports to China could drop by a whopping 65% if China imposes a 25% tariff on US soybeans.

President Donald Trump is expected to impose tariffs on Chinese goods as soon as Friday or next week, according to two sources briefed on internal deliberations, a move that is sure to further inflame tensions and spark nearly immediate retaliation from Beijing. "If there are not tariffs, it will be because the president has decided that he's not ready to implement tariffs", said a person familiar with the matter.

"If you look back at President Trump's history, he's been wildly successful negotiating as a businessman". His import taxes on steel and aluminum have drawn protests from companies that use foreign-made metals, farmers who fear USA trading partners will retaliate against them and Republicans in Congress. Several industry lobbyists told Reuters that they expect the move to come as early as Friday, with publication of a Federal Register notice, or it could be put off until next week.

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"China could be a little bit upset about trade because we are very strongly clamping down on trade", Trump said in an interview with Fox News's Bret Baier airing on Wednesday.

In the trade fight, Bannon said, Trump has converted three major tools that "the American elites considered off the table" - namely, the use of tariffs, the technology investigation of China and penalties on Chinese telecom giant ZTE.

"I stressed how important it is for President Trump to rectify that situation so that trade becomes more balanced, more reciprocal and more fair, with the opportunity to have American workers be treated fairly", he said. He can also delay the tariffs by another 180 days if the US Trade Representative's office finds that negotiations with China are yielding progress.

"I think it's very likely we will see tariffs".

"The Chinese have certainly wanted to weaken U.S. alliances, they've wanted to set in motion a process which would result in withdrawal of U.S. troops from the region. They understand what we are doing", he said before praising his "good personal relationship" with Chinese President Xi Jinping. "For our country, I have to do it", Trump said at a press conference in Singapore, possibly referring to tariffs.

Amid the rising trade tension, China's Commerce Ministry spokesman Gao Feng said Chinese exporters have been front-loading their shipments due to changes in the global trade environment.

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