US China trade war news: US will proceed with China tariffs

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US China trade war latest news

Editor: Johnathan Meyers | Tactical Investor

US China trade war news

US China trade war news: America has the edge

WASHINGTON, United States – US Treasury Secretary Steve Mnuchin on Sunday insisted President Trump intends to implement $60 billion in tariffs on Chinese imports, saying the measures will benefit the economy long-term.

Speaking on “Fox News Sunday,” Mnuchin said unless a deal is reached with China, Trump will implement the tariffs targeting sectors in which Washington says Beijing has stolen American technology.

“We are going to proceed with our tariffs. We are working on that,” he said.”The market will go up and down in the short term (but) the real important issue is where will it be longer-term,” Mnuchin said.

“I think what we’re doing is, long-term, very good for the economy, which was pressing for free and fair trade and to the extent that China is willing to open up their markets.”

“If they open up their markets, it’s an enormous opportunity for US companies.” Read more

Despite threats of retaliation from China over U.S. plans to impose tariffs on up to $60 billion in Chinese goods, Treasury Secretary Steve Mnuchin on Sunday said President Donald Trump had no intention of backing down and was not worried about a trade war.“We are going to proceed with our tariffs. We’re working on that,” Mnuchin told Fox News Sunday. “So, as President Trump said, we’re not afraid of a trade war, but that’s not our objective.”

Fears of a trade war between the United States and China have sent U.S. stock prices tumbling. The Dow Jones Industrial Average.DJI and the S&P 500.SPX both lost nearly 6 per cent by the end of last week.

Mnuchin said he believed the United States could reach an agreement with China on some issues but said the tariffs would not be put on hold “unless we have an acceptable agreement that the president signs off on.”

China has urged the United States to “pull back from the brink” on the tariffs and threatened to retaliate by hitting U.S. agricultural exports. Read more

US China trade war news: Mnuchin Confident US will Prevail

Speaking on “Fox News Sunday,” Mnuchin said unless a deal is reached with China, Trump will implement the tariffs targeting sectors in which Washington says Beijing has stolen American technology.
“We are going to proceed with our tariffs. We are working on that,” he said.
Mnuchin repeated Trump’s assertion that “we are not afraid of the trade war” — but added he had had “very productive conversations with the (Chinese) vice-premier.”

“I’m cautiously hopeful we reach an agreement, but if not we are proceeding with these tariffs. We are not putting them on hold unless we have an acceptable agreement that the president signs off on,” he said.
“If they open up their markets, it’s an enormous opportunity for US companies.” Read more

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