President Donald Trump intensified pressure on China to strike a trade deal in Washington this week by threatening to more than double tariffs on $200 billion of the Asian nation’s sales to the world’s largest economy. This is right in time for sell in May and go away!
In an abrupt shift from the White House after both sides had indicated negotiations were going well, Trump tweeted on Sunday he’s not satisfied with the pace of progress and that the duties would increase Friday. He had twice delayed increasing tariffs to 25 percent from 10 percent after agreeing to a Dec. 1 truce with President Xi Jinping to give their negotiators time to work out a comprehensive agreement.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate,” Trump said in his tweet. “No!”
Reaching a deal will depend on the world’s two largest markets resolving the issues in their trade dispute. The main issues remaining include an enforcement mechanism to police the agreement and a decision over whether tariffs will be removed or stay in place, according to the people, who spoke on the condition of anonymity.