The US and China have imposed tit-for-tat tariffs on hundreds of billions of dollars worth of each others’ goods, roiling financial markets, disrupting manufacturing supply chains and shrinking US farm exports.
WASHINGTON - United States President Donald Trump on Thursday warned he could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted “fantastic” progress towards an agreement to end a dispute with the Asian country.
The United States had been poised to hike tariffs on some $200 billion in Chinese imports to 25% from 10% after Friday if no deal was reached by then. But on Sunday, Trump announced that he would delay the hike in duties due to progress in negotiations with Chinese officials last week.“The progress last week was fantastic,” White House economic adviser Larry Kudlow said on CNBC on Thursday, noting that U.S.
He also said the United States would need to maintain the threat of tariffs on Chinese imports for years, even if the two countries strike a deal, a gloomy prospect for companies seeking to end trade war uncertainty. Adding more details, Kudlow said China would need to report any intervention in the foreign exchange market.
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