MEZIESBLOG

U.S. President Donald Trump on Thursday warned he could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted “fantastic” progress towards an agreement to end a dispute with the Asian country.

The United States and China have imposed tit-for-tat tariffs on hundreds of billions of dollars-worth of each other’s goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S. farm exports.

“I am always prepared to walk,” Trump said in Hanoi, after cutting short a summit meeting with North Korea’s Kim Jong Un that failed to reach a nuclear deal.

“I’m never afraid to walk from a deal. And I would do that with China, too, if it didn’t work out.”

The United States had been poised to hike tariffs on some $200 billion in Chinese imports to 255 from 10% after Friday if no deal was reached by then. But on Sunday, Trump announced that he would delay the hike in duties due to progress in negotiations with Chinese officials last week.

Since then, Trump administration officials have offered few details on the discussions.

“The progress last week was fantastic,” White House economic adviser Larry Kudlow said on CNBC on Thursday, noting that U.S. Trade Representative Robert Lighthizer read Chinese officials “the riot act” in talks last week.

“We are heading towards a remarkable, historic deal,” he added.