Trump expected to take 'significant action' against China on trade: official

0
© Reuters. FILE PHOTO: Donald Trump is sworn in as the 45th president of the United States on the West front of the U.S. Capitol in Washington© Reuters. FILE PHOTO: Donald Trump is sworn in as the 45th president of the United States on the West front of the U.S. Capitol in Washington

WASHINGTON (Reuters) – U.S. President Donald Trump is expected to direct a “pretty significant action” in trade tariffs against China affecting around $50 billion in Chinese goods, an administration official said on Thursday.

U.S. trade officials were meeting at the White House on Thursday afternoon to discuss the issue, with Treasury Secretary Steven Mnuchin arguing against the move, the official said.

The official told Reuters that Trump no longer thought of China’s influence over North Korea as a compelling reason not to impose tariffs now that the United States had a direct line of communication with Pyongyang.

“We have a channel that’s independent of China now,” he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.