Tags: China | Financial Markets | Money | Trump Administration | trade war | tariffs | escalation

Report: Tariffs May Go to 50 or 100 Percent If China Nixes Deal

China's Xi Jinping and Donald Trump stand on a red carpet before a summit early in the trump administration
China's Xi Jinping and President Donald Trump before the trade war began. (Andy Wong/AP)

Thursday, 19 September 2019 05:48 PM

President Donald Trump is poised to significantly ramp up pressure on China if a trade deal is not agreed upon soon, according to an outside adviser to the White House who called tariffs so far "low level."

In an interview in Hong Kong on Thursday with the South China Morning Post, Michael Pillsbury said Trump had been "remarkably restrained in the pressure he has brought to bear on China in the trade field."

"Does the president have options to escalate the trade war? Yes, the tariffs can be raised higher," he told the news outlet.

"These are low-level tariffs that could go to 50% or 100%," he said, adding that Trump's critics were wrong to assume he is "just bluffing" when he threatened an all-out trade war.

"There are other options involving the financial markets, Wall Street, you know, the president has a whole range of options," he said.

Pillsbury, who has advised the White House and previous Republican presidents going back the Reagan administration, stressed he was not speaking for the administration. Trump's tweets are the best guide to his thinking, he said.

"I believe President Trump uses social media, especially on China, to convey his thinking," he said. "So I reject the idea that I or anyone else is some kind of adviser to him on China.

"His focus is revealed frequently in the tweets that I think everybody should take very seriously as presidential statements."

Trade officials from both sides are expected to resume negotiations in Washington next month.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
StreetTalk
According to an outside adviser to the White House who called tariffs so far "low level," President Donald Trump is poised to significantly ramp up pressure on China if a trade deal is not agreed upon soon.
trade war, tariffs, escalation, trade deal, force technology transfer, intellectual property theft
252
2019-48-19
Thursday, 19 September 2019 05:48 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved