Trump says in 'no rush' for China trade deal, defends tariffs

WASHINGTON, May 10 (Reuters) - U.S. President Donald Trump said on Friday he was in "absolutely no rush" to finalize a trade agreement with China as negotiators from both countries prepared to continue talks in Washington, in a sign that discussions could go past this week.

In a blizzard of early-morning tweets, Trump defended his decision to slap additional levies on $200 billion worth of Chinese goods, which went into effect earlier Friday, and said the tariffs would boost the United States more than any trade deal.

He also appeared to take aim at U.S. businesses for importing goods or parts from China, calling on them to make more products domestically to avoid paying any extra costs.

"Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind," Trump said in a tweet.

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President Trump, Melania Trump with Chinese President Xi Jinping
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President Trump, Melania Trump with Chinese President Xi Jinping
U.S. President Donald Trump, right, and Xi Jinping, China's president, greet attendees waving American and Chinese national flags during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. The White House expects to announce upwards of $250 billion in business deals in China this week, an administration official said -- exactly the sort of U.S. jobs-based diplomacy that Trump�likes to deliver when traveling abroad. Photographer: Qilai Shen/Bloomberg via Getty Images
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City with China� President Xi Jinping and China� First Lady Peng Liyuan in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and China's President Xi Jinping leave after an opera performance at the Forbidden City in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and first lady Melania enjoy an opera performance with China's President Xi Jinping at the Forbidden City in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City with China's President Xi Jinping and China's First Lady Peng Liyuan in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump looks at first lady Melania Trump next to Chinese President Xi Jinping as they tour the Conservation Scientific Laboratory of the Forbidden City in Beijing, China November 8, 2017. REUTERS/Andy Wong/Pool
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City with China?s President Xi Jinping and China?s First Lady Peng Liyuan in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and Chinese President Xi Jinping tour the Conservation Scientific Laboratory of the Forbidden City in Beijing, China November 8, 2017. Looking on is Chinese first lady Peng Liyuan at left and U.S. first lady Melania Trump at right. REUTERS/Andy Wong/Pool
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City with China's President Xi Jinping and China's First Lady Peng Liyuan in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump, first lady Melania and China's President Xi Jinping pose with opera performers at the Forbidden City in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and U.S. first lady Melania visit the Forbidden City with China's President Xi Jinping and China's First Lady Peng Liyuan in Beijing, China, November 8, 2017. REUTERS/Jonathan Ernst
US President Donald Trump tours the Conservation Scientific Laboratory of the Forbidden City in Beijing on November 8, 2017. US President Donald Trump toured the Forbidden City with Chinese leader Xi Jinping on November 8 as he began the crucial leg of an Asian tour intended to build a global front against North Korea's nuclear threats. / AFP PHOTO / POOL / Andy Wong (Photo credit should read ANDY WONG/AFP/Getty Images)
US President Donald Trump and First Lady Melania Trump arrive on Air Force One in Beijing on November 8, 2017. US President Donald Trump arrived in Beijing on November 8 for the critical leg of his Asia tour to drum up an uncompromising, global front against the nuclear weapons ambitions of the 'cruel dictatorship' in North Korea. / AFP PHOTO / POOL / THOMAS PETER (Photo credit should read THOMAS PETER/AFP/Getty Images)
U.S. President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj
U.S. President Donald Trump takes part in a welcoming ceremony at the Great hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj
U.S. President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj
Xi Jinping, China's president, left, and U.S. President Donald Trump look on during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. The White House expects to announce upwards of $250 billion in business deals in China this week, an administration official said -- exactly the sort of U.S. jobs-based diplomacy that Trump�likes to deliver when traveling abroad. Photographer: Qilai Shen/Bloomberg via Getty Images
Xi Jinping, China's president, left, gestures while standing next to U.S. President Donald Trump, during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. The White House expects to announce upwards of $250 billion in business deals in China this week, an administration official said -- exactly the sort of U.S. jobs-based diplomacy that Trump�likes to deliver when traveling abroad. Photographer: Qilai Shen/Bloomberg via Getty Images
BEIJING, CHINA - NOVEMBER 09: The convoy of US President Donald Trump makes its way through Tiananmen Square before the welcome ceremony on November 9, 2017 in Beijing, China. At the invitation of Chineses President Xi Jinping, U.S President Donald Trump is to pay a state visit to China from November 8 to 10. (Photo by Lintao Zhang/Getty Images)
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U.S. and Chinese officials are to resume negotiations on Friday morning for a second day as the world's two largest economies seek an agreement.

"Talks with China continue in a very congenial manner - there is absolutely no need to rush," Trump said. "We will continue to negotiate with China in the hopes that they do not again try to redo deal!"

"China should not renegotiate deals with the U.S. at the last minute," he said.

Trump has erroneously insisted China would pay the tariffs but it is U.S. businesses that will shoulder the costs. Some have so far absorbed the levies but prices are up on numerous products as companies pass off the charges to consumers.

U.S. farmers and others are feeling the pinch from previous retaliatory tariffs imposed on their products by Beijing.

China on Friday also threatened to take measures in response to the latest additional tariffs imposed by Trump but gave no other details.

Trump struck a conciliatory note with the U.S. agriculture sector, promising to use federal funds to buy additional American farm products for overseas humanitarian aid.

But any funds from the U.S. tariffs would go into the U.S. Treasury's general fund, and Congress - not the White House - directs U.S. spending.

U.S. Vice President Mike Pence, in an interview with Fox News taped on Thursday, sounded upbeat on a possible agreement.

"We believe a deal is possible," he said in the interview that aired on Friday.

(Reporting by Susan Heavey and Jeff Mason; Editing by Jeffrey Benkoe and Bill Trott)

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