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Trump Predicts a "Great Deal" With China as Bilateral Trade Row Persists

© AFP 2023 / NICOLAS ASFOURIMagazines featuring front pages of US President Donald Trump (L) and China's President Xi Jinping (R) are displayed at a news stand in Beijing
Magazines featuring front pages of US President Donald Trump (L) and China's President Xi Jinping (R) are displayed at a news stand in Beijing - Sputnik International
The trade spat between Washington and Beijing escalated in April after the United States slapped 25- and 10-percent tariffs on steel and aluminum imports, respectively, from China. Since then, the two countries have exchanged several rounds of tariff hikes against each other.

In an interview with Fox News, US President Trump has underscored that he predicts a "full-blown deal" with China on trade, but that Beijing is not ready for it.

"I think we will make a great deal with China, and it has to be great because they've drained our country," Trump said.

Referring to the 500 billion dollars which Trump claimed China annually got from the US, he pledged that Washington will win an economic confrontation with Beijing.

READ MORE: China Faces 'Alarming' Local Government Debt Amid Mounting Trade War With US

His remarks came a day after Chinese Assistant Foreign Minister Zhang Hanhui underscored that Beijing is not ready to minimize its trade with the US despite the ongoing trade conflict between the two countries.

"We do not want to minimize our trade with the United States. The volume of the Chinese-US trade depends on the US side," he pointed out.

China and the United States are currently engaged in a trade row which was triggered by the US slapping 25- and 10-percent tariffs on steel and aluminum imports, respectively, from China in April.

READ MORE: China Says It Won't Turn Its Currency Into Tool for Trade War With US

A sign advertising the Qihoo 360 Technology Co Ltd is hung with the U.S. and Chinese flags outside of the New York Stock Exchange before the company's Initial Public Offering (IPO) in New York in this March 30, 2011 file picture - Sputnik International
US-China Trade War to Weaken Global Economic Growth in 2019 – Moody’s
On September 24, Trump's fresh tariffs on $200 billion worth of Chinese goods and services entered force, with Washington warning that it could slap similar tariffs on another $267 billion of Chinese goods and services in the future.

Since March, the Trump administration has introduced several waves of tariffs worth tens of billions of dollars against Chinese goods in an effort to rebuild the US industrial base.

China has retaliated with its own tariffs against US goods, but continues to maintain that there can be no winners in a trade war.

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