Trade War with China
President Donald Trump indicated he would approve an 80% tariff on China, leaving the path of negotiations to Treasury Secretary Scott Bessent. The administration previously announced a 145% tariff on Chinese goods. Trump urged China to open its market to U.S. products.
Key Points
- Trump approves 80% tariff on China
- Administration previously announced 145% tariff on Chinese goods
- Calls for China to open its market to U.S. products
- Negotiations led by Treasury Secretary Scott Bessent
Pros
- Protecting American industries
- Negotiating better trade deals
Cons
- Possible retaliation from China
- Impact on global economy