Trump is gambling that the American economy can stomach even steeper tariffs on China as he heads toward a 2020 reelection bid.
President Donald
“I’m different than a lot of people,” Trump told reporters Thursday afternoon. “I happen to think that tariffs for our country are very valuable”Sign Up “When it became clear that the Chinese were reversing their commitments, the entire trade team was strongly unified to go forward,” said one administration official. “This is the only course we can take now.”
But many economists call that wishful thinking. If Trump follows through on his threat to impose 25 percent tariffs on over $500 billion in Chinese exports to the U.S., China could respond with direct price hikes on everything from cellphones to bath soap.
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