Still no break in the trade war between the US and China.
President Trump is touting the benefits of boosting tariffs on 200-billion dollars’ worth of chinese imports. Beijing is expected to fight back.
In a tweet Sunday, the president said: “We are right where we want to be with China.” But China won’t be footing most of the bill for u-s tariffs.
Moody’s analytics chief economist says Americans are already paying they just don’t really know it, it’s kind of a stealth tax. but it’s going to become a very obvious tax not too far from now if this continues.
President Trump’s top economic adviser, Larry Kudlow, admitted as much.
The Chinese say they will take necessary counter-measures to the tariff hike.
President Trump doesn’t seem concerned. In another Sunday tweet, he said China loves “ripping off America!”
Kudlow confirms no additional discussions with the chinese are on the agenda, but he said trade rep. Robert Lighthizer and Treasury Secretary Steve Mnuchin have been invited to China for more talks.