President Donald Trump continues to ramp up the rhetoric on tariffs, declaring in a recent tweet that they can be an effective negotiation tactic as he defended his trade policy.
Taking to Twitter this morning, he wrote: “Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It’s as simple as that — and everybody’s talking! Remember, we are the ‘piggy bank’ that’s being robbed. All will be Great!”
The statement comes a day before Trump is scheduled to meet with European Commission President Jean-Claude Juncker in Washington, where they are expected to discuss the United States’ recent wave of steel and aluminum tariffs on longtime trade partners including Canada, Mexico and the European Union.
It also follows Trump’s proclamation earlier this month that he is “ready” to raise tariffs on all $505 billion worth of Chinese goods that the U.S. imports annually — the latest move in the U.S. and China’s escalating trade war. So far, the administration has imposed 25 percent tariffs on $34 billion of Chinese goods, with the total set to rise to $50 billion in the coming weeks.
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In retaliation, Beijing announced that it would levy duties on an equal dollar amount worth of U.S. imports and threatened increased regulation for American companies that are doing business in the country.
Trump has argued that the tariffs are part of a broader plan to safeguard American manufacturing and jobs. In another tweet, he said, “Countries that have treated us unfairly on trade for years are all coming to Washington to negotiate. This should have taken place many years ago but, as the saying goes, better late than never!”
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