Trump claims to be holding up trade deal

Business | Agencies 13 Jun 2019

President Donald Trump said that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees again to four or five "major points" that Trump did not specify.

"China is a major competitor and right now China wants to make a deal very badly," Trump told reporters at the White House as he departed on a trip to Iowa. "It's me right now that's holding up the deal. And we're going to either do a great deal with China or we're not doing a deal at all."

White House economic adviser Larry Kudlow said the US economy will likely still achieve a 3 percent pace of growth this year even without a trade deal with China.

Elsewhere, China's Huawei Technologies canceled the launch of a new laptop and paused production at its personal computer business due to restrictions on buying US components, according to a person familiar with the matter, the Wall Street Journal reported.

Foxconn has told companies worried about the trade war between Beijing and Washington that it can move electronics production for the US market out of China at short notice, adding that production will begin at its new Wisconsin plant by the end of next year, the Financial Times reported.

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