Not to be confused with the package of $200 billion in tariffs the Trump regime will impose on imports from China any hour or any day now, Trump is already thinking about the next round of tariffs.
Speaking to reporters this morning on his way to another unhinged rally, Trump said he's ready to impose over $260 billion more.
President Donald Trump said he’s ready to impose tariffs on an additional $267 billion in Chinese goods on short notice, on top of a proposed $200 billion that his administration is putting the final touches on.
The implementation of tariffs on $200 billion of products from China “will take place very soon depending on what happens,” Trump told reporters on Air Force One on Friday. “I hate to do this, but behind that there is another $267 billion ready to go on short notice if I want.”
This is not the first time Trump has floated the possbility of imposing tariffs on virtually all goods that we import from China, but this suggests he may do so even before the midterm elections.
Although inflation is still wiping out wages, today's relatively good jobs report will probably send the wrong signal to Trump and give him the idea that his trade war is helping, not hurting. He doesn't understand, or he doesn't care, that his trade war is contributing to inflation.
If Trump goes through with this, almost everything you buy will cost more. This is troubling for me personally because I already have to weigh the cost of things like clothing against the cost of food. Take a look around at things you buy and if any of it came from China, it's going to cost anywhere from 10 to 25 percent more in the near future.
As for why the package of $200 billion in tariffs hasn't already been imposed, it appears that the White House is pretending that they're trying to negotiate with China even though the two sides don't even have a meeting scheduled.
White House economic adviser Larry Kudlow on Friday left open the possibility of a negotiated solution to the trade dispute, but said China must show it’s open to compromise.