White House declines to comment on Bloomberg report, nor would it comment on Thursday’s deflated markets
U. S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in
Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported Thursday.
The White House declined to comment on the Bloomberg report, which cited six unidentified sources, nor would the administration comment on deflated markets. The Standard & Poor’s 500 hit session lows, and the U. S. dollar, Chinese yuan and U. S. Treasury yields also fell.
Trump has credited his electoral success to his hard line on trade, which he has argued hurts U. S. workers and favors foreign competitors. Washington is demanding that Beijing improve market access and intellectual property protections for U. S. companies, cut industrial subsidies and slash a $375 billion trade gap.
