Ugh. President Donald Trump could throw a wrench into U.S.-China trade negotiations yet again after he revealed that he has not agreed on rolling back tariffs.
He told the press that China wants to make more of a deal than he does because he is content taking in billions from the tariffs.
“China would like to get somewhat of a rollback, not a complete rollback, ‘cause they know I won’t do it. I haven’t agreed to anything,” he said.
“I’m very happy right now. We’re taking in billions of dollars.”
The Dow Jones surged triple digits on Thursday when the Chinese Ministry of Commerce said that both sides agreed to gradually eliminating tit-for-tat tariffs, totaling tens of billions of dollars. On Friday, when it was reported that there was internal opposition in the White House, stocks fell but still ended the week doing well.
President Trump added that the trade agreement with China would likely be signed in the United States, potentially in places like Iowa or a farm country. This dispels previous reports that officials were eyeing London next month.
Is this 4D chess? Is Trump trying to delay an agreement for as long as he can so that when it is signed it will be closer to Election Day?
Perhaps.
Until then, get ready for a game of Will They or Won’t They with your host President Donald J. Trump.
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