U.S. President Donald Trump’s threat to jack up U.S. tariffs on Chinese goods could hit consumer goods before Christmas by andrea_shalal
WASHINGTON - U.S. President Donald Trump’s threat to jack up U.S. tariffs on Chinese goods if the world’s two largest economies fail to reach a trade deal could raise the price of cellphones, laptops, and toys less than two weeks before Christmas.
Stocks fell on Wednesday in Asia and Europe and initially in the United States as investors digested his comments. [L2N27S0OL] The Trump administration hoped to avert the Dec. 15 tariffs, if possible, said William Reinsch, a former senior U.S. Commerce official and trade expert at the Center for Strategic and International Studies.
Reinsch and other experts said they still expected Washington and Beijing to reach a “phase one” agreement before that point, but the timing was looking less certain. Trump had agreed in October to skip raising those tariffs to 30% from the 25% rate in place now. That would affect goods ranging from industrial components and semiconductors to furniture and building supplies.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fox News judge says Trump quid pro quo 'clearly impeachable' because 'President requested something that's criminal'Judge Andrew Napolitano, the senior judicial analyst for Fox News, has declared that President Trump's quid pro quo deal with the Ukraine is impeachable on 'Your World With Cavuto' this Tuesday.
Read more »
Sean Spicer Eliminated From 'DWTS' Despite President Trump PushSean Spicer's run on 'Dancing with the Stars' has come to an end.
Read more »
Donald Trump Jr.'s $50K visit sparks call to impeach student presidentThe University of Florida student body president is accused by some student senate members of spending $50,000 of student fees 'to further enrich Donald Trump Jr., and Kimberly Guilfoyle.'
Read more »
Trump holds news conference with Turkish president: Live updatesPresident Trump will hold a news conference with Turkish President Recep Tayyip Erdogan at the White House. Follow here for the latest.
Read more »
‘I’m a Big Fan’: Trump Endorses Another Autocrat in Meeting with Turkish President ErdoganNo authoritarian is too extreme to land a White House invitation from the Trump administration
Read more »