Trump hasn’t gotten an agreement on ANY of his several trade negotiations with Pacific, European or Canada or Mexico….
Trump’s opening tariff rising has NOT slowed imports into America….
The American public is being charged higher prices which inturn has increased profits for some importer’s of goods to America…
Typical Donald Trump backwards way of doing things…..
He now is doubling down against the rising Chinese imports in hopes of getting a new ‘deal’…..
President Trump said Sunday that he will increase tariffs on Chinese imports on Friday, unexpectedly setting what appears to be a new deadline to produce a comprehensive deal or trigger an escalation of the U.S.-China trade war.
Just days before Chinese negotiators are scheduled to arrive in Washington, the president threatened to increase tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent on Friday and levy a new 25 percent fee on all remaining Chinese imports shortly.
In a pair of tweets, Trump accused China of trying to “renegotiate” the terms of an agreement that negotiators have been racing to finish for five months.
Chinese Vice Premier Liu He is scheduled to arrive in Washington on Wednesday for what had been billed as potentially the concluding rounds of bargaining.
U.S. officials have said they hoped to wrap up a sweeping deal soon, but Trump’s abrupt intervention adds a volatile new element to the end game.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” the president tweeted shortly after noon on Sunday.
The office of the U.S. trade representative, Robert E. Lighthizer, had no immediate response to a request for comment.
The president repeated his mistaken claim that “China has been paying Tariffs to the USA” for 10 months. In fact, American importers pay those import levies.
While Chinese exporters on some occasions may lower their prices and absorb part of the tariffs, several recent studies have concluded that almost the entire financial burden has fallen on the U.S. economy…..
It appears the Chinese maybe playing hardball with Trump after his announcemnmet of more tariff increases…
“In a surprise twist that has put a China-U.S. trade accord in doubt, Beijing is considering pulling out of talks scheduled to begin this week after President Trump threatened to drastically ramp up U.S. tariffs,” the Wall Street Journal reports.
“Chinese officials have said Beijing wouldn’t bend to pressure tactics. By potentially scotching the trip, Beijing would be following up on its pledge to avoid negotiating under threat.”….