The president said Thursday he will decide whether to slap tariffs on an additional $300 billion worth of Chinese goods after the G20 summit later this month, signaling his threat remains an option if the two superpowers can not seal a truce to their trade war. You know why? Because of tariffs ...
Trump was asked in an interview with CNBC on Monday whether tariffs on about $300 billion in Chinese goods would be enacted immediately if there's no meeting at the summit later this month.
During his Monday morning interview with CNBC, President Donald Trump claimed that China has "lost 15 to 20 trillion dollars in value since the day I was elected".
But even so "China is getting absolutely decimated" by United States actions, he said.
The Fed, which will announce its next policy decision next week, increased the key policy rate four times last year, but Powell this year has stressed that they will be patient to see how the economy develops, especially given the impact of Trump's trade war with China.More news: California utility to cut power to 27,000 customers to reduce wildfire risk
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In a wide-ranging interview with CNBC, Trump also said disputes over Chinese tech giant Huawei Technologies could be addressed as part of any U.S. trade deal with China.
"I would be surprised if he didn't go", Trump said. And we're going to be a great partner to Mexico now. "And we don't have that advantage because we have a Fed that doesn't lower interest rates", Trump told CNBC.
The White House and Mexico reached an agreement late last week and Trump called off the tariff threat. He said the only reason Mexican officials agreed to changes was because he threatened their goods with tariffs.
The US Trade Representative office has launched the process to impose the huge new duties, with a hearing scheduled for June 17 - but Trump has said he has yet to decide whether he will ultimately impose the levies. "They couldn't even believe how stupid we were". Last week Powell opened the door to a cut if trade tensions cause USA businesses to cut back on investment and hiring.
Refreshing other familiar themes of frustration, Trump said the Fed "certainly didn't listen to me because they made a big mistake". But the US delegation left without any significant breakthrough on China. But the fact that Chinese leaders won't even confirm a meeting between Xi and Trump in a few weeks reflects a level of mistrust between both sides.
"Without tariffs, we would be captive to every country, and we have been for many years", Trump said.