Former President Donald Trump announced Monday that tariffs on goods imported from China could see a substantial increase if a longer-term trade deal isn't reached within the next 90 days. Speaking publicly, Trump indicated that tariffs could "go up substantially higher" than their current levels, suggesting a figure beyond the existing rates.
The warning adds pressure to ongoing trade negotiations between the United States and China. Key points of contention remain, including intellectual property protection, market access, and trade imbalances. While both sides have expressed a desire for a mutually beneficial agreement, significant disagreements persist.
The potential escalation of tariffs could have far-reaching consequences. American consumers may face higher prices on imported goods, while businesses could experience disruptions in their supply chains. Economists are closely monitoring the situation, assessing the potential impact on economic growth and inflation.
Trump Warns of Higher Tariffs if No China Trade Deal
Former President Donald Trump stated on Monday that tariffs on Chinese goods could increase significantly if a comprehensive trade agreement isn't finalized within 90 days. He suggested the tariffs could rise well above current levels. This warning comes as discussions continue between the U.S. and China regarding trade practices. The potential increase could impact consumers and businesses alike.
Source: Read the original article at ABC