President Trump
Donald John TrumpPence: It's not a "foregone conclusion" that lawmakers impeach Trump FBI identifies Pensacola shooter as Saudi Royal Saudi Air Force second lieutenant Trump calls Warren 'Pocahontas,' knocks wealth tax MORE on Thursday told his aides to move forward with tariffs on $200 billion in Chinese goods, even as the administration seeks to restart trade talks with Beijing, according to Bloomberg News.
Donald John TrumpPence: It's not a "foregone conclusion" that lawmakers impeach Trump FBI identifies Pensacola shooter as Saudi Royal Saudi Air Force second lieutenant Trump calls Warren 'Pocahontas,' knocks wealth tax MORE on Thursday told his aides to move forward with tariffs on $200 billion in Chinese goods, even as the administration seeks to restart trade talks with Beijing, according to Bloomberg News.Treasury Secretary Steven Mnuchin
Steven Terner MnuchinWorld Bank approves billion-plus annual China lending plan despite US objections On The Money: Congress races to beat deadline on shutdown | Trump asks Supreme Court to shield financial records from House Democrats | House passes bill to explicitly ban insider trading Hillicon Valley: Pelosi works to remove legal protections for tech companies from USMCA | Treasury sanctions Russian group over 0 million hack | Facebook sues Chinese individuals for ad fraud | Huawei takes legal action against FCC MORE this week proposed another round of talks with China in an effort to ease tensions in the escalating trade war that is raising concerns on Capitol Hill and throughout the business community.
Steven Terner MnuchinWorld Bank approves billion-plus annual China lending plan despite US objections On The Money: Congress races to beat deadline on shutdown | Trump asks Supreme Court to shield financial records from House Democrats | House passes bill to explicitly ban insider trading Hillicon Valley: Pelosi works to remove legal protections for tech companies from USMCA | Treasury sanctions Russian group over 0 million hack | Facebook sues Chinese individuals for ad fraud | Huawei takes legal action against FCC MORE this week proposed another round of talks with China in an effort to ease tensions in the escalating trade war that is raising concerns on Capitol Hill and throughout the business community.ADVERTISEMENT
Trump's strong desire to narrow the expanding trade gap with China has led to tit-for-tat tariffs of $50 billion imposed by each country. He has promised tariffs of $200 billion on China's imports, a move that's been delayed while officials determine a final list of products based on recently submitted public comments.
Trump met Thursday with his top trade advisers, including Mnuchin, Commerce Secretary Wilbur Ross
Wilbur Louis RossSpace race is on: US can't afford congressional inaction in this critical economic sector Trump escalates fight over tax on tech giants The Hill's Morning Report - Intel panel readies to hand off impeachment baton MORE and U.S. Trade Representative Robert Lighthizer
Robert (Bob) Emmet LighthizerPelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House On The Money: Economy adds 164K jobs in July | Trump signs two-year budget deal, but border showdown looms | US, EU strike deal on beef exports MORE, to discuss the China tariffs, Bloomberg News reported on Friday.
Wilbur Louis RossSpace race is on: US can't afford congressional inaction in this critical economic sector Trump escalates fight over tax on tech giants The Hill's Morning Report - Intel panel readies to hand off impeachment baton MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerPelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House On The Money: Economy adds 164K jobs in July | Trump signs two-year budget deal, but border showdown looms | US, EU strike deal on beef exports MORE, to discuss the China tariffs, Bloomberg News reported on Friday.He expressed confidence this week that his sweeping tariffs plan will work.
"They are under pressure to make a deal with us," Trump tweeted on Thursday, referring to China. "Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?"
Trump has said he's using the tariffs as leverage to force China to change what he considers unfair trade practices, like stealing U.S. intellectual property and forcing U.S. firms to transfer their technology to China.
Last week, Trump threatened a third batch of tariffs on another $267 billion of Chinese imports, covering more than all Chinese exports to the U.S.
Updated at 1:14 p.m.
