U.S. President Donald Trump said on Friday that he has tariffs ready to go on a further $267 billion worth of Chinese imports, as the world awaits his decision on imposing levies on $200 billion worth of the Asian nation’s goods.
“The $200 billion we are talking about could take place very soon depending on what happens with them. To a certain extent its going to be up to China, Trump said. “And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. That changes the equation.”
If you hate to say and do things that are foolish, the simple solution is to not say and do those things.
Tariffs are a direct tax on consumers and businesses. A handful of protected businesses gain a little, a mountain of others lose.
This is not winning.
Mike "Mish" Shedlock