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Trump says US government won’t do business with Huawei, not ready to make a trade deal with China

Trump says US government won’t do business with Huawei, not ready to make a trade deal with China

Trump says US government won’t do business with Huawei, not ready to make a trade deal with China – The trade war between America and China is getting hyped. In wide-ranging remarks, US president contends China has manipulated its currency. Trump says US government won’t do business with Huawei, not ready to make a trade deal with China. The U.S. government will no longer have any dealings with Chinese telecom giant Huawei, Trump said.  “We are not going to do business with Huawei. … And I really made the decision. It’s much simpler not doing any business with Huawei. That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump said. The move on Huawei came after China halted buying American agricultural products in retaliation for Trump’s surprise tariffs threat last week.

As the trade war keeps escalating, President Donald Trump said Friday that the U.S. government will no longer have any dealings with Chinese telecom giant Huawei.

“We are not going to do business with Huawei. … And I really made the decision. It’s much simpler not doing any business with Huawei. … That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump told CNBC.

“We are talking to China; we are not ready to make a deal, but we’ll see what happens … China wants to do something, but I’m not doing anything yet. Twenty-five years of abuse. I’m not ready so fast,” Trump said.

Trump’s decision on Huawei came after China halted buying American agricultural products in retaliation for Trump’s surprise tariffs threat last week. China also allowed its currency to drop against the dollar to a key level unseen since 2008.

Background Story

On Wednesday, the Trump administration published rules for a ban on federal purchases of telecommunications and video surveillance equipment and services from five Chinese companies, including Huawei and ZTE. The ban, mandated by Congress last year as part of the National Defense Authorization Act, goes into effect next week. The government has another year to meet broader NDAA restrictions that ban federal agencies from working with contractors that use products and services from Huawei and the other banned companies.

Impacts of Trade War

Critics of Trump’s tactics say the tariffs that the US has imposed have hurt US businesses and consumers, not China – a charge Trump rejects, saying that prices in the US have not risen.

Moreover, he noted that he had directed spending US$16 billion to bolster American farmers because China has retaliated by cutting off purchases of US agricultural products such as soybeans, and buying from other nations, like Brazil.

US Treasury Department data shows that as of June 30, it had collected US$63 billion in tariffs over the preceding 12 months.

Trump argues that the US taxpayer is not paying more as a result of the tariffs, saying that prices in the US have stayed low. However, critics say that is not the case.

One group, Tariffs Hurt the Heartland, a group that is against Trump’s trade tactics, found in its research that American businesses and consumers have paid more than US$27 billion in new tariffs from the start of the trade war in 2018 through to the end of June of this year.

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