Donald Trump: ‘If we don’t make a deal with China, I’ll just raise the tariffs even higher’

Here we go again: The U.S.-China trade agreement has hit a bump in the road after President Donald Trump’s recent threats.

Speaking at a Cabinet meeting on Tuesday, the president revealed that he will raise tariffs on China if a trade deal does not happen.

“If we don’t make a deal with China, I’ll just raise the tariffs even higher,” Trump said in a room filled with senior U.S. officials.

This comes a week after he confirmed that he would not roll back tariffs. The Chinese government had claimed that both sides had agreed to gradually eliminate tariffs in the same way they were introduced. But the White House denied this was the case.

Interestingly enough, financial markets shrugged off the remarks. Investors just thought it was Trump being Trump and beating his chest. Instead, traders were more focused on Home Depot and Kohl’s missing sales estimates in their recent quarterly reports. The Dow shed 100 points to finish the Tuesday session.