Tariff Increase Will Resume on China if No Deal is Made

Wilbur Ross spoke to National Governors Association and Chamber of Commerce at a summit in D.C. about America’s economic success and included the deal going on with China.

The most important thing Ross spoke on was the negotiations with China and if they will forge an agreement or not.

Ross said this at the summit, “Our negotiations with China have already addressed many of the outstanding issues we face with them. So, President Trump is willing to extend a bit the deadline on tariffs to see whether we can achieve an enforceable agreement in an ultimate session at Mar-a-Lago.”

Ross added that if China doesn’t agree to any deal, the U.S. will tariff 20% of every $200 billion imports and keep the 25% tariff on $50 billion imports the same without an increase.

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