Thursday, 28 Mar 2024

Trump blasts proposed restrictions on China trade, says national security is no 'excuse'

WASHINGTON (REUTERS) – US President Donald Trump on Tuesday (Feb 18) blasted some proposed restrictions on trade with China and said national security cannot be used as an “excuse” to make it difficult for foreign countries to buy US products.

“The United States cannot, & will not, become such a difficult place to deal with in terms of foreign countries buying our product, including for the always used National Security excuse, that our companies will be forced to leave in order to remain competitive,” Mr Trump wrote on Twitter.

“I have seen some of the regulations being circulated, including those being contemplated by Congress, and they are ridiculous. I want to make it EASY to do business with the United States, not difficult,” he continued.

Trump did not identify the restrictions.

Earlier on Tuesday, China said it would grant exemptions on retaliatory duties imposed against 696 US goods – the most substantial tariff relief to be offered so far – as Beijing seeks to fulfil commitments made in its interim trade deal with the US.

The announcement, which came after the Phase 1 trade deal between the two countries took effect on Feb 14, is the third round of tariff exemptions China has offered on US goods.

Beijing has committed to boosting its purchases of goods and services from the US by US$200 billion (S$278 billion) over two years as part of the agreement.

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