Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned the U.S. of consequences if it does not end its 'wrong actions.'
White House economic adviser Larry Kudlow said on Sunday that he doesn't believe China will retaliate against additional tariffs on Chinese imports that President Donald Trump announced Friday.
China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned the U.S. of consequences if it does not end its "wrong actions." Trump said the U.S. will raise existing tariffs on $250 billion of Chinese goods to 30% from 25% on Oct. 1. He is also raising tariffs on the remaining $300 billion of Chinese imports to 15% from 10%. Those tariffs will go into effect in two phases on Sept. 1 and Dec. 15.
"Such unilateral and bullying trade protectionism and maximum pressure violates the consensus reached by head of China and United States, violates the principle of mutual respect and mutual benefit, and seriously damages the multilateral trade system and the normal international trade order," China's commerce ministry said.
Kudlow said that the president does have the authority to block private businesses from investing in China, but that "he is not intending to right now. That is not his intention."
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Kudlow does not expect China to retaliate against latest U.S. tariffsWhite House economic adviser Larry Kudlow said on Sunday that he does not expect China to retaliate against additional tariffs on Chinese goods that U.S. President Donald Trump announced Friday. Trump on Friday put an additional 5% duty on some $550 billion in targeted Chinese goods, hours after China
Leer más »
Kudlow does not expect China to retaliate against latest U.S. tariffsWhite House economic adviser Larry Kudlow said on Sunday that he does not expect...
Leer más »
China tariffs fuel Trump 'order' for firms to cut China tiesTrump is is threatening to use the emergency authority granted by a powerful, but obscure federal law to “order” U.S. businesses to cut ties in China after it announced plans to raise tariffs on $75 billion in U.S. imports.
Leer más »
Donald Trump Again Insists China Pays His Tariffs“I think our tariffs are very good for us,” he said hours after the Federal Reserve chairman warned that "trade policy uncertainty" is rattling the U.S. economy.
Leer más »
Old Video Of Letterman Challenging Trump Over China-Made Ties Goes Viral“Rarely do you see Donald Trump caught without something to say," said MSNBC&39;s Ari Melber, who shared the 2012 clip.
Leer más »