WASHINGTON - U.S. President Donald Trump said on Friday that trade talks with China would continue even after Washington moved to hike tariffs on Chinese goods, avoiding the worst-case scenario of a complete breakdown in negotiations between the world’s two largest economies.
“In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!” Trump said. Despite his insistence that China will absorb the cost of the tariffs, it’s U.S. businesses that will pay them and likely pass them on to consumers. Consumer spending accounts for more than two-thirds of U.S. economic activity.
Trump, who has adopted protectionist policies as part of his “America First” agenda and railed against China for trade practices he labels unfair, has accused Beijing of reneging on commitments it made during months of negotiations. U.S. Agriculture Secretary Sonny Perdue said on Friday that Trump had asked him to create a plan to support American farmers. The U.S. government already has rolled out up to $12 billion to help offset their China-related losses.The new 25% U.S. duty is being imposed on more than 5,700 categories of products, applied to products leaving China after 12:01 a.m. EDT on Friday. The biggest sector affected is a $20 billion-plus category of internet modems, routers and other data transmission devices.
The higher tariffs could reduce U.S. gross domestic product by 0.3% and China’s by 0.8% in 2020, consultancy Oxford Economics said.
Meanwhile, the president is laser focused on the ongoing difficulties in removing the thumb from his bum....
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump says China may be waiting for Democratic president to do trade dealTrump said China may be pulling back from a trade agreement in the hopes that a Democratic president will be elected in 2020. He added: 'Guess what, that’s not going to happen!' FatBaby LittleDonny Unqualified DumpsterFire So sure if himself, hires Putin’s preparing for 2020 Communist dictatorship
Source: USATODAY - 🏆 100. / 63 Read more »
Trump says Beijing 'broke' trade talk deals, pledges to keep tariffs on Chinese goodsU.S. President Donald Trump says Beijing 'broke' trade talk deals, pledges to keep tariffs on Chinese goods by jeffmason1 davelawder jeffmason1 davelawder 100 % sure. Trump 2020 jeffmason1 davelawder Go right ahead. China's retaliatory measures are all ready. And it has many tools to deploy. USA is now down to low interest rates & Trump begging for QE4 to stay afloat.
Source: Reuters - 🏆 2. / 97 Read more »
Trump ratchets up pressure on China, threatens tariff hikesU.S. President Donald Trump vows tariff hike on Chinese goods, escalating tension in trade talks by jeffmason1 davidshepardson jeffmason1 davidshepardson Yes sir! The Chinese better behave and play fair. jeffmason1 davidshepardson jeffmason1 davidshepardson i dont agree with hardly anything Donald Trump does but i wish we had a leader with his balls but not a racist.
Source: Reuters - 🏆 2. / 97 Read more »
U.S.-China tension will outlast Twitter trade spatGlobal markets fell after Donald Trump tweeted that he’d increase tariffs on Chinese goods. Even if trade talks get back on track, other U.S. moves will damage relations. They include curbs on investment from, and tech sales to, the PRC as well as an enforcement push.
Source: Breakingviews - 🏆 470. / 51 Read more »
Trump claims China holding out on trade talks for Biden or other 'very weak' Dem presidentPresident Trump claimed China backpedaled in trade talks because Beijing is hoping for more favorable negotiations with one of the Democratic primary candidates vying for the White House in 2020 Donald is really stupid. You might mention how much money the Chicoms have shoveled to Hunter Biden, Joe's son! There Trump goes again blaming other people for crimes he's committed.
Source: politico - 🏆 381. / 59 Read more »
Farmers are 'losing their patience' with Donald Trump over China trade deal, GOP senator saysPresident Donald Trump is escalating his trade war with China and introducing further tariffs, but under-pressure farmers are voicing concerns, Republican Senators have said. It’s ok, we will borrow more money from China to subsidize the farmers. Certainly took them long enough. Who gaf about those ignorant bumpkins?
Source: Newsweek - 🏆 468. / 52 Read more »
Trump Today: President talks up possible China deal as he asserts executive privilege over Mueller reportPresident Donald Trump on Wednesday held out the possibility of striking a trade deal with China even as he said he’d be happy with keeping tariffs, and... Is this being broadcast on HBO ?
Source: MarketWatch - 🏆 3. / 97 Read more »
Joe Biden labeled Donald Trump a 'clown,' but said president only succeeds at name-callingFormer Vice President Joe Biden demanded a higher level of discourse in the 2020 campaign, claiming he has 'so many nicknames' to give President Donald Trump, but settling for now on 'clown.' Biden is not exactly taking the high road. But then again, he's not exactly known for his eloquence. Might be the right match for Trump that way. Trump IS a clown and SOB.
Source: Newsweek - 🏆 468. / 52 Read more »
President Donald Trump chooses Patrick Shanahan as next Defense SecretaryPresident Trump has picked Patrick Shanahan to lead the Pentagon. Shanahan follows Jim Mattis who resigned over differences with Trump.
Source: YahooNews - 🏆 380. / 59 Read more »
President Donald Trump chooses Patrick Shanahan as next Defense SecretaryPresident Trump has picked Patrick Shanahan to lead the Pentagon. Shanahan follows Jim Mattis who resigned over differences with Trump. If Trump picked him, better not open his closet door....bones are liable to fall out! AmericaFirst Seems logical and sound Keep America strong and safe!
Source: USATODAY - 🏆 100. / 63 Read more »
Donald Trump is not the first president to fight subpoenasCongress’s ability to scrutinise the executive branch rests on fragile norms the extreme lefts in Democrats r itching to impeach him But better n cheaper to let him lose 2020 alllibertynews Or maybe it's obvious the Dems subpeonas are pure garbage and political asshattery, thus proving the legal process is correct to act er...'judiciously.'
Source: TheEconomist - 🏆 6. / 92 Read more »