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Trump Says Mexico Tariffs Worked, Emboldening Trade Fight With China

Added 06-11-19 06:40:02am EST - “President Trump backed off his threat to impose tariffs on Mexico last week ?" but the encounter suggests more tariffs could be on the way” - Nytimes.com


Posted By TheNewsCommenter: From Nytimes.com: “Trump Says Mexico Tariffs Worked, Emboldening Trade Fight With China”. Below is an excerpt from the article.

WASHINGTON — President Trump has concluded his tariff threat worked and forced Mexico to stop the flow of migrants. On Monday, he pivoted back to his trade fight with China and vowed to hit Beijing with more tariffs if it did not accede to America’s trade demands.

“The China deal’s going to work out,” Mr. Trump said in an interview on CNBC. “You know why? Because of tariffs. Because right now China is getting absolutely decimated by companies that are leaving China, going to other countries, including our own, because they don’t want to pay the tariffs.”

The president has long favored tariffs as an immediate and unilateral policy tool. But his increasing confidence that the levies have helped accomplish his goals without harming the United States sets up an even more tumultuous period ahead for businesses, consumers and foreign countries.

“Protectionism shows no signs of abating, rather it is intensifying,” said Joshua Shapiro, the chief United States economist at MFR Inc.

Markets are already counting on the Federal Reserve to come to the rescue by cutting interest rates. Fed officials have begun signaling they are prepared to help prop up the economy to counter any slowdown from Mr. Trump’s trade war, a development that could give the president even more leeway to carry out an aggressive trade policy.


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