Trump says 100pc tariffs on China not sustainable

U.S. President Donald Trump said his proposed 100 percent tariff on goods from China would not be sustainable but blamed China for the latest impasse in trade talks that began with Beijing tightening control over its rare earth exports.

Asked whether such a high tariff was sustainable and what that might do to the economy, Trump replied, "It's not sustainable, but that's what the number is."

"They forced me to do that," he said in an interview with Fox Business Network broadcast on Friday.

Trump unveiled additional levies of 100 percent on China's U.S.-bound exports a week ago, along with new export controls on "any and all critical software" by November 1, nine days before existing tariff relief was set to expire.

The new trade steps were Trump's reaction to China dramatically expanding its rare earth element export controls. China dominates the market for such elements, which are essential to tech manufacturing.

Trump also confirmed he would meet with Chinese President Xi Jinping in two weeks in South Korea - a meeting he had cast doubt on last week - and expressed admiration for the Chinese leader.

"I think we're going to be fine with China, but we have to have a fair deal. It's got to be fair," Trump said on FBN's "Mornings with Maria," which was taped on Thursday.

REUTERS