Earlier this week, China announced the United States had made a major concession in the trade war negotiations.
Trump, however, immediately pushed back, saying that concessions China announced did not happen.
No Rollbacks for You!
As the trade war with China elevated, Trump added significant tariffs to bring China to the negotiating table. For the most part, those tariffs worked, as China has been very eager to get a new deal in place.
A report broke on Thursday that the Chinese announced Trump has agreed to roll back some of the tariffs recently placed, which stunned everyone in the administration, including President Trump.
As soon as the report went public, Trump immediately pushed back. The President stated, “They’d like to have a rollback. I haven’t agreed to anything”
“China would like to get somewhat of a rollback, not a complete rollback because they know I won’t do it.”
Our best guess is that rollbacks were proposed and pending some stipulations being met and put into place, those tariffs would have been rolled back, but that would be something down the road.
That, clearly, is not how the Chinese portrayed this.
The report by the Chinese does not really serve any obvious purpose.
When Trump is crossed, he digs his heels in, and the Chinese leadership knows this.
If they have any hope of ending this trade war, which stands to cripple their economy, posting a fake update on the negotiations is only going to make Trump double down on the trade restrictions.
Trump was not the only one pushing back either, as White House trade adviser Peter Navarro also pushed back, stating that no deal had been put in place that would corroborate the report released by the Chinese.