Currently the trade war between china and us is already hurting the whole world. it again took a big hit when donald trump president of united states decided to hike the tarrif round. President Donald Trump escalated his trade war with China on Friday morning, raising tariffs on $200 billion worth of Chinese goods and taking steps to tax nearly all of China’s imports as punishment for what he said was Beijing’s attempt to “renegotiate” a trade deal.
In his comments at the White House on Thursday afternoon, Trump vacillated between threatening China and suggesting a deal could still happen. The president said he had received a “beautiful letter” from President Xi Jinping of China and would probably speak to him by phone but said he was more than happy to keep hitting Beijing with tariffs.“I have no idea what’s going to happen,” he said. “They’ll see what they can do, but our alternative is, is an excellent one,” Trump added, noting that U.S. tariffs on $250 billion worth of Chinese products were bringing “billions” in to the U.S. governmen“We were getting very close to a deal then they started to renegotiate the deal,” Trump said. “We can’t have that.”
To the president’s credit, the tariffs are working,” said Dan DiMicco, the chairman of the trade lobbying group Coalition for a Prosperous America and a former trade adviser to Trump during his 2016 campaign. “America’s manufacturers and workers are now seeing gains as manufacturing employment rises and China’s hold on the U.S. market shrinks.”
“American business continues to have major problems with China’s commercial policies, but we simply must find a way to tackle these that doesn’t turn our most competitive companies into collateral damage,” said Peter Robinson, the chief executive of the United States Council for International Business.
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