Trump Expects to Move Ahead China Tariff Boost to 25%: WSJ

(Bloomberg) -- President Donald Trump said he expects to move ahead with boosting tariff levels on $200 billion of Chinese goods to 25%, calling it “highly unlikely” that he would accept Beijing’s request to hold off on the increase, the Wall Street Journal reported, citing an interview.

  • “If we don’t make a deal, then I’m going to put the $267 billion additional on,” at a tariff rate of either 10% or 25%,” Trump said
  • Trump said tariffs could also be placed on iPhones and laptops imported from China
    • “Depends on what the rate is,” Trump said, referring to a possible consumer reaction if tariffs were applied to mobile phones and laptops
    • “I mean, I can make it 10%, and people could stand that very easily”
  • Trump said in the interview that he spoke with GM CEO Mary Barra and said the company should stop making cars in China and open a new plant in Ohio
  • NOTE: Earlier Monday, Trump said he’s “not happy” about GM’s plan to lay off more than 14,000 workers and close seven factories worldwide

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