US President Donald Trump commented trade negotiation with China during a speech at the Economic Club of New York yesterday. He said “we’re close — a significant phase one deal could happen, could happen soon.” He added the usual rhetoric that China is “dying” for a deal.
However, he also warned, “if we don’t make a deal, we’re going to substantially raise those tariffs. They’re going to be raised very substantially. And that’s going to be true for other countries that mistreat us too.”
Separately, Larry Kudlow, director of the National Economic Council,said it’s “possible” that tariffs with China could be adjusted as part of the trade deal. But neither side would agree to any tariff adjustments until the deal was finalized. He added, “since there’s no formal agreement we can’t say.”
