TIL Desk/World/Washington/ As a fresh set of US tariffs on Chinese goods kicks in on September 1, President Donald Trump Friday said 13 per cent of companies are going to leave China “in the fairly near future”. After coming to power, Trump has imposed hefty tariffs on import of Chinese products, resulting in a trade war between the two biggest economies of the world.
“It’s a bad situation they (Chinese) have put themselves in. And I just saw — it came over the wires — that 13 per cent of certain companies are going to be leaving China in the not-too-distant future. That’s a big thing,” Trump told reporters at the White House.
“Thirteen per cent of the companies will be leaving China in the fairly near future. And I’m not surprised to hear that. I think it’s going to be much higher. Because they cannot compete with the tariffs. They can’t compete,” he said in response to a question.
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