(MENAFN- Live Mint) United States President Donald Trump said on Friday, October 17, that his proposed 100 per cent tariffs on Chinee imports would not be sustainable, as he hoped that ties with the country would be fine when he meets President Xi Jinping in South Korea in two weeks. The US President also blamed China for the latest setback in trade talks, citing Beijing's move to tighten control over its rare earth exports.

“I think we're going to be fine with China, but we have to have a fair deal. It's got to be fair,” Donald Trump said.

When asked if such high tariffs on Chinese imports were sustainable, Donald Trump said they were not.“It's not sustainable, but that's what the number is,” Donald Trump said in an interview with Fox Business Network.“They forced me to do that.”

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Trump unveiled additional levies of 100 per cent on China's US-bound exports a week ago, along with new export controls on“any and all critical software” by November 1, nine days before existing tariff relief was set to expire.

China hits back on tariff threat: 'Not afraid of one'

As Trump continues to threaten tariffs on China, Beijing has signaled that no tariff could back the country down as it also urged the United States to resolve the standoff between the two countries through negotiations.

Trump responded by taking a less confrontational approach without retreating from his demands, while his vice president seemed to warn Beijing not to react aggressively.

“China's stance is consistent,” the Commerce Ministry said in a statement posted online.“We do not want a tariff war but we are not afraid of one.”

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As China's statement came, Trump took to his social media handle Truth Social and said,“it will all be fine.”

Trump said, "Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!

Vice President JD Vance described the situation as a delicate balancing act, noting that much will hinge on China's response.

“It's going to be delicate dance and a lot of it is going to depend on how the Chinese respond. If they respond in a highly aggressive manner, I guarantee you the president of the United States has far more cards than the People's Republic of China,” Vance said.

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