Trump Says He May Upset China on Trade as U.S. Tariffs Loom

Thursday, June14,21018- U.S. President Donald Trump said he’ll confront China “very strongly” over trade in upcoming weeks, as his administration had planned to announce it on Friday, a final list of tariff targets, which will be imposed shortly thereafter.

Trump announced in an interview with Fox News’s Bret Baier on Wednesday.  An interview was conducted on Tuesday, Aboard Air Force One after Trump met North Korean leader Kim Jong Un in Singapore “China could be a little bit upset about the trade because we are very strongly clamping down on trade”.

On Thursday, Trump has convened a meeting at the White House to talk with his trade team about whether to move forward with tariffs on Chinese goods, according to two people familiar with the plans. “You will see over the next couple of weeks. They understand what we are doing,” he said before praising his “good” personal relationship with Chinese President Xi Jinping.

The Trump administration, in its preliminary list, the U.S. said, ‘it would levy an additional 25 percent duty on everything from TV components to dishwashers and snow blowers. If the U.S. and China descend into tit-for-tat tariffs, investors will become increasingly nervous about the prospect of a protracted trade dispute that will drag on global growth’, said Michael Every, head of financial markets research at Rabobank Group in Hong Kong.

Bloomberg said, “Trade is going to be far more unpredictable going forward and so far markets keep trying to shrug it off as if it isn’t going to happen”, he added, “When it finally happens maybe the markets will wake up and realize, wow, this is actually happening.”

Murphy, who sits on a trade committee that advises the Commerce Department and U.S. Trade Representative’s office, “That would be my baseline case: that they’re going to publish a final list on Friday with an effective date of July 1”. He added, “Things change on a tweet, so if they think China is negotiating in good faith, they could delay it.”

by Sawan Kumar on June 15, 2018

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