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President Donald Trump said on Monday the U.S. and China — the world’s two largest economies — “are going to have a great relationship,” even as he warned that if he chose to, he could “destroy China” by playing the “incredible cards” at his disposal.
“We have much bigger and better cards than they do,” Trump told reporters in the Oval Office ahead of a bilateral meeting with South Korean President Lee Jae Myung. “They have some cards. We have incredible cards. But I don’t want to play those cards. If I did, that would destroy China,” Trump said, adding “I’m not going to play those cards.”
It was not immediately clear whether Trump’s “cards” referred to economic leverage, political influence, or something else.
TRUMP CONSIDERING MEETING WITH CHINA’S XI IN THE NEAR FUTURE AMID POSSIBLE TARIFF PAUSE EXTENSION
Trump also said he spoke to Chinese President Xi Jinping recently and added that he was considering a trip to meet with his counterpart as the two countries continue to negotiate trade terms.
“At some point, probably during this year or shortly thereafter, we’ll go to China,” Trump said. The president said last month that Xi had extended the invitation.
Washington and Beijing agreed on Aug. 12 to extend their trade truce for another 90 days, giving negotiators more time to reach a deal. Trump has raised tariffs on all Chinese goods several times this year, with the highest duty reaching 145% in April. The current U.S. levy on most Chinese imports stands at 30%. China has placed a 10% duty on U.S. imports.`
CHINA’S OIL TIES WITH RUSSIA AND IRAN ARE TRADE FLASHPOINTS, US SAYS
In July, Treasury Secretary Scott Bessent identified China’s support for sanctioned oil as a central point of contention during the latest round of trade talks that occurred in Sweden. Bessent previously led trade negotiations with the Chinese in Geneva in May, and a month later in London.
Washington has long complained that Iran and Russia use the funds from oil exports to finance terror and other destabilizing actions around the world. Despite U.S. sanctions, Beijing is the top importer of Iranian oil and the second-largest importer of Russian oil.
In addition to Russian and Iranian oil imports, Bessent also said the U.S. wants to curb China’s status as the world’s manufacturing powerhouse. He has previously called on China to limit its massive export economy and increase its participation as a global trade import partner.
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