Trump to world: 'You're tariffed!' | Analysis by CNN's zbyronwolf
He's emboldened by an incredibly resilient US economy he claims as valediction. The newest tariffs he's imposed on Chinese goods are not a drag on US consumers, but rather in the service of a better bargaining position for a trade deal, which he'll deliver at some point, he hopes. The trade war with China is"a little squabble.
— Donald J. Trump September 17, 2018 "They will be 'Tariffed!" he said of countries he didn't think were treating the US fairly. It was like a"You're fired!" for his brand of dramatic, confrontational nationalist global trade. A week later he hit China with new tariffs on $200 billion worth of goods. What he's done most recently is raise the rate of the tariffs on those goods from 10% to 25%.Penalties for top trading partners'use strict';CNN.Videx=CNN.
China retaliates with higher tariffs on US goods 01:49The top three US trading partners are Mexico, Canada and China, in that order. Together they represent 43% of US trade with other countries, according to Census data.Trump has hit all three with tariffs of some kind, yet he's failed so far to agree new trade deals. He could be running out of things to threaten.Trump hit China with tariffs last year and threatened more if a deal could not be reached by March.
President & CEO 'beyond freaked' over China tariff hikes 01:56Now that trade talks with China are stalled, markets are spooked, and US farmers and retailers are, in the words of Rick Helfenbein, president of the American Apparel and Footwear Association,"beyond freaked." No matter, Trump said Sunday on Twitter."We are right where we want to be with China. Remember, they broke the deal with us & tried to renegotiate.
Tariffs could cost American family of four $767 per year 02:45His presidency has been spent projecting dominance, issuing threats, demanding concessions and slapping tariffs on the United States' largest trading partners.What he's technically got to show for it, so far, is a trade deal with South Korea, which had the backdrop of North Korea and possible nuclear annihilation to move it along.
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