Trump downplays new China trade deal chances

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Trump downplays new China trade deal chances
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The president has stepped up his rhetorical attacks on China’s handling of the virus in recent weeks as cases surge across the U.S. and public opinion of his handling of the pandemic hits all-time lows

The USTR late on Friday announced $1.3 billion in new tariffs on a series of French cosmetics, soaps and handbags — a retaliation to Paris’s plan to put a new digital services tax, known as DST, on large U.S. tech companies doing business there. The step leaves the next move not just with France but also with other European nations that have indicated that they favor DSTs.The new 25 percent tariffs won’t be collected immediately, but instead are suspended for six months.

Those would most likely be subject to another public comment period before any duties are imposed. But many wine and specialty food importers — which already have higher costs because of duties that USTR has imposed in a separate dispute over European aerospace champion Airbus — are worried their products will be featured prominently on the new retaliation lists.

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