President Trump on Thursday said he’s hopeful the U.S. will strike a trade deal with China despite an impasse between the world’s largest economies over tit-for-tat tariffs.
Mr. Trump also said he isn’t worried that Southeast Asian allies such as Vietnam, Cambodia and Malaysia will grow closer to Beijing, given his hard-line stance on trade. Chinese President Xi Jinping courted those nations in person in recent days.
“Nobody can compete with us, nobody,” Mr. Trump said, underscoring the spending power of Americans. “I think we’re going to make a very good deal with China.”
Mr. Trump weighed in on China during a visit from Italian Prime Minister Giorgia Meloni, who is serving as a critical liaison between the U.S. and European Union.
Mr. Trump and Ms. Meloni have a good relationship, but Italy wasn’t spared from his tariffs.
Italy faces Mr. Trump’s blanket 10% tariff on all foreign goods and is working — alongside the rest of the EU — to stave off a general 20% tariff after a 90-day pause for negotiations.
Ms. Meloni believes the tariffs are “wrong” but has signaled her desire to avoid a trade war with the U.S.
“That’s why I’m here,” she told White House reporters.
Ms. Meloni said if she didn’t think Mr. Trump was a reliable trade partner, she wouldn’t have traveled to Washington.
“I’m sure we can make a deal. I’m here to help all that,” she said.
A deal with China could be a thornier proposition.
Beijing says it doesn’t want a trade war but won’t back down from one. Indeed, last week China raised its levies on U.S. imports to 125%. The White House countered this week with a 145% tariff on Chinese goods.
The White House has said the ball is in China’s court to initiate a deal.
