Trump defends China tariffs as trade war leaves allies and opponents in bind
Added 05-15-19 04:11:02am EST - “Trump's hardline stance against China puts Republicans in an awkward position, while Democrats are splitDonald Trump with China's President Xi Jinping in 2017. China said it will raise tariffs on $60bn worth of US goods from 1 June,…” - News.yahoo.com
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Donald Trump has again defended tariffs as his dogged, often self-contradictory pursuit of a trade war with China put allies and opponents alike in a difficult spot.
Stocks tumbled after China said it would impose higher tariffs on US goods including frozen vegetables and liquefied natural gas, in retaliation for America raising tariffs on $200bn in Chinese imports. Trump has threatened to extend tariffs to the remaining $300bn or so in Chinese imports that have not been targeted yet, but told reporters on Monday: “I have not made that decision yet.”
As the clash of the world’s two biggest economies raised fears of global shockwaves, Trump denied American consumers would pay the price.
“There is no reason for the US consumer to pay the tariffs, which take effect on China today,” Trump tweeted, before offering a convoluted explanation.
That put him at odds with his own national economic adviser, Larry Kudlow, who was asked on Fox News Sunday: “It’s US businesses and US consumers who pay, correct?”
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