Trump promises to stay the course on tariffs

  • Trump promises to stay the course on tariffs

Trump promises to stay the course on tariffs

The objective of the talks was to "prepare for more formal negotiations" but the progress had been slowed down due to the mistrust on both the sides, the Post quoted official sources as saying.

China recently threatened to slap retaliatory tariffs on an additional $60 billion in us goods.

The two sides do not appear to be talking, either, which raises the chances of a drawn-out trade war.

US President Donald Trump has defended his tariffs against China, tweeting that they had brought Beijing to the negotiating table.

It was the latest in a series of tariffs, with the first being imposed by Trump back in early February.

Ed Mills, a policy analyst at Raymond James, said in a note to clients that while the possibility of a breakthrough deal remains, it is unlikely to come without increased trade restrictions.

After months of economic tensions, the USA and China are continuing trade talks, said President Trump, who on Saturday touted the effectiveness of tariffs in a series of tweets.

Washington also unveiled a list of another $200 billion in Chinese goods, from areas as varied as electrical machinery, leather goods and seafood, that would be hit with 10% import duties.

Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of imports from America if the USA delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of Finance said in a statement on its website late Friday.

China then retaliated with a threat on Friday to hit $60 billion worth of USA exports to China, with tariffs ranging from 5% to 25%. Because US farmers are now experiencing the phenomenon of having a surplus of goods that they can not sell on the Chinese market due to the retaliatory tariffs already in place, the American federal government will now likely have to bail farmers out due to the losses of revenue they have incurred simply because they are being artificially isolated from the Chinese market that represents a lion's share of their profits.

"Their economy's weak, their currency is weak, people are leaving the country". "Don't underestimate President Trump's determination to follow through". Plants are opening all over the U.S., Steelworkers are working again, and big dollars are flowing into our Treasury.

The statement said the date of implementation of the taxes will depend on the "actions of the USA side" and China reserves the right to apply "other countermeasures".

Trump also oddly boasted in OH that the tariffs would help the USA pay off its $21 trillion debt (Trump is responsible for $1.9 trillion of debt). "We haven't heard from them".

Kudlow also told reporters on Friday that the administration held a call with China within the past few days involving high-level officials. But multiple reports indicate that prior to the call, there has been nearly no dialogue for the past month.

The lack of negotiations is compounded by the fact that Trump and the White House have not articulated clear goals for the trade fight with China.