Trump says he and China's Xi will probably get along just fine

US President-elect Donald Trump said Monday that he and Chinese leader Xi Jinping are likely to get along very well and that the two are already communicating.

Their economy is not doing very well right now and they really need us, Trump said. in an interview with conservative talk show host Hugh Hewitt, when asked if he could deal with China's Xi, the only man who is remotely as strong as the United States.

Trump then described Xi as a strong and powerful man, who he said was “certainly revered in China.”

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“And I think we'll probably get along very well, I predict,” he said. “But you know, it has to be a two-way street.

Repeating accusations he had made previously, Trump said China had “ripped off” the United States economically.

China is ripping off the United States for a trillion dollars a year, a trillion, trillion to a T, Trump said.

He added that he already had a strong and friendly relationship with Xi during his first term, until the Covid-19 pandemic in 2020. Clearly, (Covid) was a gift from China, said Trump.

When Hewitt pointed out that the two leaders would likely have an interesting first meeting, Trump responded, “We've already talked.” We spoke through their representatives.

Trump's comments come at a time when Chinese policymakers and investors are very concerned about the possible impact of promised tariffs.

The new US president campaigned for the election promising to maintain a tough stance on China, including imposing tariffs of up to 60% on imports from the country.

These promises have injected significant volatility into Chinese stocks, and pushed the yuan to its lowest level in 16 months.

Experts say Beijing will have a limited scope to manage the impact of Trump's tariffs, given that China's economy is on the brink of deflation and managing a $16 trillion debt crisis.

Beijing responds

Meanwhile, in response to Trump's remarks, China's Foreign Ministry said Beijing attaches “great importance” to Trump's remarks.

“China is willing to promote the stable, healthy and sustainable development of China-US economic and trade relations,” spokesman Guo Jiakun said, citing mutual respect and “win-win” cooperation.

Guo did not confirm that any exchanges had taken place through the leaders' aides, but said China and the United States had maintained communication through various means.

TrumpguestX and other foreign leaders at his inauguration in Washington later this month, but experts say the Chinese leader is unlikely to attend.

Trump has appointed many China hawks to key positions in his new administration, including Sen. Marco Rubio as secretary of state.

He also promised to impose additional 10% tariffs on Chinese goods unless Beijing does more to end trafficking in fentanyl, a highly addictive narcotic responsible for tens of thousands of deaths in the United States. .

• Reuters, with additional edits and contributions from Vishakha Saxena

NOTE: A correction was made to Mr. Trump's quote in the 2nd paragraph from January 7, 2024, to ensure it was accurate with what the President-elect said during his interview.

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Vishakha Saxena

Vishakha Saxena is a Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013 and is an experienced multimedia writer and producer. As a trader and investor, she has a keen interest in the new economy, emerging markets and the intersections of finance and society. You can write to him at [email protected]