U.S. President Donald Trump has hinted he will continue to turn the financial screws on Beijing,... just a day after the U.S. government took the rare step of designating China a currency manipulator.
Trump's economic advisor also stressed the U.S. has an upper hand in the trade negotiations,... pointing out that China's economy isn't what it was 20 years ago.
Kim Hyo-sun tells us more.
Following Washington's designation of China as a currency manipulator,... President Trump is continuing to keep the squeeze on Beijing.
Trump tweeted Tuesday that his administration has done what no previous U.S. administrations have done,... stood firmly beside American farmers.
He added he'll do so again next year if needed,... to ensure China is not able to hurt them.
Watchers are viewing the tweets as a sign Trump will maintain his current stance if Washington cannot conclude a satisfactory trade deal with Beijing.
Trump has already announced he will levy an additional ten percent tariff on Chinese imports worth 300 billion dollars from September 1st.
Trump's top economic advisor Larry Kudlow emphasized Tuesday that the U.S. holds the upper hand in trade negotiations with Beijing,... claiming the Chinese economy is now crumbling.
In an interview with CNBC,... the director of the White House National Economic Council also stressed Washington's determination to hold further trade talks with China.
Explaining Washington is preparing to hold trade negotiations with Beijing in the U.S. next month,... he also hinted there could be changes to the tariffs imposed against China.
This comes as U.S. National Security Advisor John Bolton warned Beijing would face consequences if it does not halt all its wrong actions, which include currency manipulation and the theft of American intellectual property rights.
Speaking to Fox News on Tuesday,... Bolton also stated that Washington will go to the International Monetary Fund if Beijing continues to tinker with its currency.
Kim Hyo-sun, Arirang News.