Trump Says Trade War Could Drag On, Stokes France Spat
03 December 2019 - 11:35PM
Dow Jones News
By Catherine Lucey
LONDON -- President Trump suggested a trade war with China could
drag out past the 2020 election and stoked a tariff spat with
France during a visit to Europe for a NATO summit.
Mr. Trump said he had "no deadline" to conclude a trade deal
with China, adding that "in some ways I like the idea of waiting
until after the election," during a meeting with the North Atlantic
Treaty Organization Secretary-General Jens Stoltenberg on Tuesday
in London.
The U.S. and China have been seeking to resolve a "phase-one"
trade deal, though negotiations have been stop-and-go. Both sides
have imposed tariffs as the dispute escalated, with more U.S.
tariffs set to go into effect Dec. 15.
In Europe for the two-day gathering, Mr. Trump also criticized
French President Emmanuel Macron for comments he made about the
29-member military alliance, and expressed frustration with
France's new digital-services tax.
"I don't want France taxing American companies. If they're going
to be taxed it's going to be the United States that will tax them,"
Mr. Trump said.
The French tax, which was signed into law July 24, applies a 3%
tax on revenue that tech companies reap in France from such
activities as undertaking targeted advertising or running a digital
marketplace. In response, the Trump administration has proposed
tariffs of up to 100% against $2.4 billion of French imports.
Mr. Trump also said the French leader's comments about NATO were
"very insulting." Ahead of the meeting, Mr. Macron gave an
interview to the Economist, warning that the continent was
experiencing "the brain death of NATO" and renewing his call for
Europe to bolster its own military capabilities.
"It's a tough statement," Mr. Trump said. "When you make a
statement like that, that is a very, very nasty statement to
essentially, including them, 28 countries."
Visiting the U.K. days ahead of parliamentary elections, Mr.
Trump said he had "no thoughts" on the vote and promised to "stay
out" of the election. But he also praised Prime Minister Boris
Johnson, saying he was "very capable and I think he'll do a good
job."
Mr. Trump, who has repeatedly called on members of alliance to
increase their military spending, also said he was pleased that
countries have increased their contributions and said he was
looking forward to a "tremendous" few days.
Administration officials said Friday that nine members now meet
or exceed the goal of spending 2% of GDP on defense and they expect
it to rise to 18 countries by 2024.
Write to Catherine Lucey at catherine.lucey@wsj.com
(END) Dow Jones Newswires
December 03, 2019 07:20 ET (12:20 GMT)
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