Editors note: Purposefully vague comments by the president on the next step towards possible future decoupling.
The U.S. could hit another $300 billion in Chinese goods with 10 percent tariffs – not 25 percent – if the two sides fail to reach a trade deal, President Trump said on Wednesday, hinting that he may consider action against Vietnam as well.
[June 26, 2019 | InsideTrade.com]
In an interview with Fox Business, Trump also suggested additional tariffs could hamstring Chinese military efforts in the South China Sea.
Trump noted that he has teed up another round of Section 301 tariffs on Chinese goods, which he called “ripe for taxing.” He has previously said those goods would be hit with 25 percent tariffs, but on Wednesday suggested other levels were possible – repeating widely rebutted claims that China, and not U.S. buyers and consumers, was bearing the brunt of already imposed duties.
“Phase 2 doesn't have to be 25 percent,” he said. “It can be 10 percent. Which people can absolutely handle. But our people aren't going to pay for that either.”...
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