More bark, less bite? Trump walks back China threat for now
Donald Trump vowed to impose steep tariffs of 10% to 20% on global imports into the US and 60% on goods from China on his first day in office to help reduce a trade deficit that now tops $1 trillion annually. Trump had promised nearly 100 executives on his Day 1 as the president and imposition of tariffs was expected to be one of those major orders. «We should expect some fairly rapid moves on tariffs because contrary to what a lot of the commentaries are expecting, what we are likely to see from Donald Trump is 'tariffs-first talk-later' rather than using the threat of tariffs to bring people to the table, impose the tariffs first, ratchet them back in return for concessions,» Alastair Newton, CEO, Alavan Business Advisory, had told ET Now.
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Now it seems Trump 2.0 could adopt the 'talk-first tariffs-later' approach as Trump held off unveiling China-specific tariffs on his first day in office. He did not immediately impose tariffs on Monday as previously promised but said he was thinking about imposing 25% duties on imports from Canada and Mexico on Feb. 1 over illegal immigrants and fentanyl crossing into the US. However, he stopped short of announcing any tariffs in China.
In a presidential memo,
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