Trump Threatens to Slap Tariffs on Everything Imported From China

23 July, 2018, 01:18 | Author: Elaine Woods
  • President Donald Trump speaks before signing an Executive Order that establishes a National Council for the American Worker during a ceremony in the East Room of the White House in Washington. Trump said he’s willing

And while Trump's commentary on interest rates and the Fed Friday morning was framed around his displeasure with key USA trading partners and their currency policy, he is being very frank about his preferences for how the Federal Reserve conduct its monetary policy.

In a taped interview with the business channel CNBC, Trump said "I'm willing to go to 500", referring roughly to the $505.5 in goods imported previous year from China.

But despite Trump's comments, the Federal Reserve has long maintained that politics don't influence its decision making process.

They also signaled an undiminished appetite for battle on multiple fronts after a week dominated by coverage of the fallout from his dealings with Russian President Vladimir Putin.

In addition, he criticized the Fed for "taking away our big competitive edge" by raising interest rates as the American dollar is getting stronger - hindering the volume of goods the US could export.

President Donald Trump is criticizing the Federal Reserve as well as some of the largest US trading partners over monetary policy. Both political and economic officials believe that the central bank needs to operate free of political pressure from the White House or elsewhere to properly manage interest rate policy.

The chance inflation might accelerate has increased after the massive tax cut Trump championed, which has raised the USA debt and budget deficit.

Mulvaney said Trump "absolutely respects the independence of the Fed, but that doesn't prevent him or previous presidents from voicing their opinions". When it came to interest rates, Nixon told his advisers "we'll take inflation if necessary, but we can't take unemployment". Trump said he's willing to hit all imported goods from China with tariffs, sending US markets sliding before the opening bell, Friday.

Daley Blind closing in on Ajax return
Manchester United have agreed a deal with Ajax for Daley Blind to return to the Dutch club. But since Jose Mourinho arrival in 2016, Blind's playing time has decreased significantly.

Mueller asks court for 100 more blank subpoenas ahead of Manafort trial
Defense lawyers, in response, said the government had selected "snippets" of the conversations to support their version of events. A filing from special counsel Robert Mueller's office might shed some light on why Manafort wanted to stay where he is.

Thai Cave Rescue: 4 More Brought Out So Far on Second Day
A mission to rescue a group of boys and their soccer coach trapped in the flooded cave since June 23 resumed hours earlier. The Thailand authorities have embarked on a rescue operation having assembled the best divers around the world.

An interview with the US President was broadcast this morning where he said the US was ready to go with more tariffs on about half a billion dollars worth of Chinese exports. The administration has also released a list of 10 per cent tariffs on an additional $200 bn of Chinese goods, which could take effect as early as next month.

Trump has ordered Commerce to investigate whether auto imports pose a threat to USA national security that would justify tariffs or other trade restrictions.

Higher rates, however, strengthen the dollar against the world's currencies, which makes the United States a more expensive - and potentially less attractive - place to invest. "Because we go up, and every time you go up, they want to raise rates again. But at the same time I'm letting them do what they feel is best", Trump said.

Along with pressing Chinese leaders to shrink the deficit, Trump's administration has accused China of engaging in unfair trade practices by forcing American investors to turn over technologies to Chinese firms.

Wall Street Journal Global Economics Editor Jon Hilsenrath discusses how tariff threats and trade fears could impact economic growth.

"I'm not thrilled", he said in an interview, according to CNBC.

"A good sign of proof there is who he has been naming to the open board spots at the Fed", he said.

The US, he reiterated is being taken advantage of by countries like China.



Roma not rushing to sign Alisson replacement after Liverpool move - Monchi
It's now been viewed over 50,000 times and Liverpool fans have noticed something very promising about Alisson: his English. Liverpool this week completed the world record £ 65million signing of goalkeeper Alisson from Roma.

Thunderstorms, Heavy Rain Headed to MetroWest
In addition, there may be some vivid lightning and damaging, straight-line wind gusts within any of these storms. The next rain and storms chance is very slim with an isolated possibility on Sunday mainly in the afternoon.

Royals release adorable christening portraits from Prince Louis’ christening
The British royal family released four photographs on Sunday (July 15) to commemorate Prince Louis' christening . TAP IMAGE FOR GALLERY The fifth-in-line to the throne giggles with delight in the fifth portrait.

Trump Arrives in Finland for Meeting With Putin
But doing so, Huntsman cautioned, "doesn't necessarily mean that the Russians are going to follow through". And so having meetings with Russia, China, North Korea , I believe in it.

Brit diver describes unprecedented Thai cave rescue
They have been recovering in hospital since they were rescued over three days last week and will discharged on Thursday. They planned to be in the cave for an hour, but flood waters forced them deeper into the cave until they were stranded.

Maurizio Sarri, Jorginho Arrive in London Ahead of Chelsea FC Moves
Premier League giants, Chelsea have officially announced the sacking of their Italian manager, Antonio Conte on their social media handle.

Trump claims North Atlantic Treaty Organisation victory after 'go it alone' ultimatum
Contrary to what Trump's supporters will say, the Mueller investigation is clearly not ending any time soon, nor should it. President Donald Trump as a negotiation partner at their upcoming talks in Helsinki , the Kremlin said Friday.

North Koreans Miss Meeting About US Soldier Remains
The North Korean leader said he hopes to "bring our next meeting forward" in the concluding sentence of the letter. He was referring the summit statement signed by the two leaders - the first-ever U.S.

Stormy Daniels strip club charges dropped, lawyer slams 'setup'
Daniels has been entrenched in a legal controversy with Trump over their alleged 2006 encounter, which he has repeatedly denied. He called the arrest a setup and said Daniels has performed the act at almost a hundred strip clubs across the country.

Kylie Jenner On Track To Become America's Youngest Billionaire
Jenner said she got the idea to launch her signature "lip kits" because she loved putting on lip liner as a teenager. Kylie says her business started with $250,000 of her own money that she made from modelling and endorsement deals.