Trump says has not agreed to roll back tariffs on Chinese goods

By Alexandra Alper and Andrea Shalal

U.S. President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, U.S., November 1, 2019. REUTERS/Tom Brenner

WASHINGTON (Reuters) – President Donald Trump on Friday said he has not agreed to rollbacks of U.S. tariffs sought by China, sparking fresh doubts about when the world’s two largest economies may end a 16-month trade war that has slowed global growth.

Officials from both countries on Thursday had said China and the United States have agreed to roll back tariffs on each others’ goods in a “phase one” trade deal. But the idea of tariff rollbacks met with stiff opposition within the Trump administration, Reuters reported later on Thursday.

Those divisions were on full display on Friday, when Trump – who has repeatedly described himself as “Tariff Man” – told reporters at the White House that he had not agreed to reduce tariffs already put in place.

“China would like to get somewhat of a rollback, not a complete rollback, ‘cause they know I won’t do it,” Trump said. “I haven’t agreed to anything.”

He said China wanted to make a deal more than he did, adding that the U.S. tariffs were generating “billions of dollars” for U.S. coffers. “I’m very happy right now. We’re taking in billions of dollars,” he said.

U.S. stocks dipped after Trump’s comments, and the dollar fell against the yen, stalling a rally fueled by trade deal optimism that has brought major indexes to record levels.

Trump also said

Keep reading this article on Reuters Business.

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