(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.
President Donald Trump said he might raise U.S. tariffs on Chinese goods beyond 25% if trade negotiations with Beijing remain stalled.
Trump told reporters that the new 10% tariff he announced Thursday for $300 billion in Chinese imports beginning Sept. 1 would be imposed for a short term and could go up or down after that. He didn’t elaborate.
“I can always do much more or I could do less,” he said. Of a 25% tariff, Trump said he’s “not looking to do that necessarily.”
Chinese President Xi Jinping isn’t moving fast enough to resolve the trade war with the U.S., Trump told reporters as he departed the White House for a campaign rally in Cincinnati. “Frankly he is not going fast enough,” Trump said.
Trump also said he’s “not concerned at all” that stock markets dropped after his announcement of the new tariffs. “I expected that a little bit.”
©2019 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR