White House expects retaliation from China, stresses ongoing talks
The Trump administration is expecting retaliation from China after imposing a new round of steep tariffs, but is stressing negotiations are ongoing.
The U.S. and China seemed poised to reach a deal on their year-long trade war last week until President Trump raised tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports on Friday after a break down of negotiations.
“The problem is two weeks ago in China there was backtracking by the Chinese," White House economic adviser Larry Kudlow said on "Fox News Sunday.
Chinese negotiators reportedly tried to reverse their vows to address issues like theft of trade secrets and intellectual property.
Now that Trump has imposed the long-threatened tariffs bump, and is considering extending that bump to more Chinese goods in the future, members of the administration expect retaliation.
https://thehill.com/homenews/administration/443303-white-house-expects-retaliation-from-china-stresses-ongoing-talks
So much for "The Art of the Deal" I guess.
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