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White House Officials Spoke After Recent Developments in US-China Trade Tensions: Will a 145% Tariff Return?
It was reported that the White House has contacted Chinese officials to arrange a phone call between U.S. President Donald Trump and Chinese President Xi Jinping.
According to two senior White House officials speaking to CNN, the Trump administration sees this meeting as a necessary step to revive trade negotiations.
Officials stated that Trump is not currently considering reimposing the 145% tariff on China. However, they warned that this stance could change if Xi Jinping fails to adhere to the agreement reached in Geneva earlier this month.
Trump's economic advisors stated that they informed the President that "if China does not fully comply with the agreement, other tools could also be used, and there are different ways to harm China."
It was noted that one of these tools is to implement export controls on products of Chinese origin and that this authority could be used by the Department of Commerce.
President Trump, in a strong post made on the Truth Social platform in the morning hours, targeted China, stating, "China has completely violated our agreement."
*It is not investment advice.
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