Trump and his Chinese counterpart Xi Jinping met in Florida this week, as the US and China forge an economic partnership.
Both leaders agreed on a plan to revive the global economy and forge greater prosperity for the global middle class.
Trump is expected to announce a new set of tariffs on China’s imports from US firms that are already high and on tariffs that are being discussed.
Xi is expected in the coming days to sign a $110bn deal with Japan and to launch an international trade pact with Mexico and Canada.
Trump is also expected to declare a “Buy American” rule for Chinese imports.
The Trump administration is also pushing forward with plans to increase the US military presence in Asia to more than 20,000.
It is expected that Xi will visit the Philippines, Vietnam, Indonesia and Japan, according to the US state department.
The US military will begin deploying its headquarters at Camp Lemonnier, the US Army base in Japan, to help train Filipino troops.
US President Donald Trump waves as he arrives at the White House for a bilateral meeting with Xi Jinping, in Washington, DC, US January 27, 2021.
Xi will visit Singapore, where he will sign an agreement with the government to boost the Philippines’ defence budget.
In Manila, Xi will meet with Trump’s two daughters, Ivanka and Eric.
In an address to the National Press Club, the Chinese president said that the US had failed to provide sufficient economic benefits to the people of the world, particularly in terms of wages, education, health care and social security.
“The current situation in the US is a great tragedy for people around the world,” Xi said.
“The current world order has created great inequality and made the world more dangerous, he said.
He added that he and Trump had agreed that the two countries would work to improve the economic conditions of people around all of the globe.
On Wednesday, Trump said that Xi and Trump were in the middle of a “very successful and constructive” economic summit.
Chinese President Xi Jinping (R) shakes hands with US President Donald Trumps daughters Ivanka (L) and Eric Trump after the signing ceremony at the Great Hall of the People in Beijing, China, 27 January 2021.
The US president and Xi spoke in a closed-door session in the Great Room of the White Palace. “
It was a very, very successful and very constructive meeting,” Trump said.
The US president and Xi spoke in a closed-door session in the Great Room of the White Palace.
During their talks, Trump also said he was pleased to announce an $80bn trade deal with Mexico, which he said would boost US manufacturing and jobs in the region.
‘Big win’ for US trade and manufacturing Trump’s decision to announce the $110 billion deal with the Japanese and $115bn deal between the two nations has been hailed as a “big win” for the US economy.
“I am pleased to report that we have signed the largest trade deal in US history,” Trump told reporters after signing the deal.
However, the deal has sparked criticism, with trade experts accusing Trump of ignoring a key element of his campaign promises to open up the US to new markets and to protect US workers.
“I think it is absolutely clear that this deal is a giveaway to the Japanese government, not to American workers,” Robert Lighthizer, president of the Business Roundtable, said on CNN.
More to come…