'Excuses!' Trump claims 'badly run and weak companies' are using tariffs as a scapegoat
President Donald Trump argues "badly run and weak companies" are blaming his tariffs on China for difficulties they face.
Trump has been putting blame on the Federal Reserve, rather than his trade war with the world's second largest economy, as concerns grow about a looming recession.President Donald Trump on Friday argued "badly run and weak companies" have blamed his trade war with China for flagging business in order to mask "bad management."
His tweet comes as more companies from a range of industries have started to slam his tariffs on about $550 billion in Chinese goods. Earlier this week,Trump, who has tried to pin blame on the Federal Reserve rather than his trade conflict with the world's second largest economy as concerns about a looming recession grow, said companies "are smartly blaming these small Tariffs" for their difficulties.
Tariffs on goods from China can raise costs for many U.S. companies. In turn, they often have to pass the increases on to customers who buy their products. While Trump has repeatedly argued his administration's duties would not hurt consumers,when he delayed certain tariffs because of the upcoming Christmas shopping season.
Trump has fixed his ire on the Fed in recent weeks as fears about a slowdown mount. In a tweet earlier Friday, he claimed the U.S. only has its central bank to blame rather than trade policy.The White House has pushed for a trade deal with China to get Beijing to address issues such as intellectual property theft and forced technology transfers. Trump also wants China to buy more American crops.
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