Published: Mon, March 25, 2019
Worldwide | By Angelina Lucas

Trump says China trade deal is close

Trump says China trade deal is close

U.S. President Donald Trump listens to a question as he meets with former hostage Danny Burch, an oil engineer who was taken hostage in Yemen in September 2017, in the Oval Office at the White House in Washington, U.S. March 6, 2019.

Additionally, the deficit with the main target of Trump's trade war - China - also grew substantially in 2018.

"I would say tariffs may be a factor in China", Powell said.

China and the United States will hold high-level trade talks - eighth round of talks - on March 28 and 29 in Beijing, the ministry of commerce spokesperson has said on Thursday.

"The European Union. frankly, treats us as badly as China", Trump told Fox Business Network.

Despite the threat of sustained tariffs, Trump said prospects for a deal were "coming along nicely". We actually rebuilt China, in the truest sense of the word. "I don't think they're the main factor". Upon conclusion of last leg of trade talk between United States and China on Washington, Trump had delayed tariff over $200 billion worth of Chinese goods, citing modest progress over the latest round of talk, in particular on Intellectual Property transfer and independence of U.S. firms conducting businesses in China.

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President Trump then moved to the European auto sector, including trucks. "We get a 25 percent tariff on that segment - that's our best segment by far".

"Sure, it does", Trump said when Bartiromo asked about the potential negative impacts of auto tariffs.

Shares of German automaker Daimler jumped briefly after the interview.

The trade war between the USA and China - which has threatened global growth - was a result of "economic illiteracy" on the part of President Donald Trump, according to an economics professor at Columbia University.

Trump answered "well, no" after he was asked whether foreign vehicles represent a national security threat to the US - the subject of a Commerce Department study Trump ordered a year ago. "We have to have - we need a strong balance sheet. Otherwise you don't have national security", Trump added. "We are straightening it out". After a US Senate Finance Committee hearing, he said both sides are "working in good faith" to reach a deal at the earliest possible.

CNBC contacted the White House outside US business hours to request for a comment on what Sachs said, but has yet to hear back.

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