Former President Donald Trump stated on Monday that tariffs imposed on goods from China could escalate "substantially higher" if a comprehensive trade agreement is not reached within a 90-day timeframe. This announcement follows ongoing trade negotiations between the United States and China, aimed at addressing concerns over trade imbalances and intellectual property rights.
Trump's statement underscores the administration's willingness to use tariffs as leverage in the negotiations. The current tariffs in place have already impacted businesses and consumers in both countries. A further increase could potentially disrupt supply chains and lead to higher prices for goods.
Economists are closely monitoring the trade talks, as the outcome will have significant implications for the global economy. The possibility of escalating tariffs introduces uncertainty and could dampen economic growth. Both sides are under pressure to find a mutually acceptable resolution to avoid further trade tensions.
Trump Hints at Higher Tariffs if China Trade Deal Fails
Former President Donald Trump suggested that tariffs on Chinese goods could significantly increase if a long-term trade agreement isn't finalized within 90 days. He emphasized the potential for tariffs to rise "substantially higher" than previously set levels. This statement comes amid ongoing discussions between the U.S. and China regarding trade imbalances and intellectual property concerns. The threat of escalating tariffs adds pressure to the negotiations and could impact global markets.
Source: Read the original article at ABC