WH clarifies on trade regrets: Pres. Trump meant China tariffs should be higher

Dhwani Mehta FXStreet

White House Press Secretary Stephanie Grisham was quick to clarify the US President Trump’s comments in the Washington Post (WaPo) interview, saying that the media misinterpreted Trump’s initial remarks, Bloomberg reports.

Trump said that he had second thoughts about the China trade war escalation.

Grisham said: "The president was asked if he had ‘any second thought on escalating the trade war with China.’ His answer has been greatly misinterpreted. President Trump responded in the affirmative - because he regrets not raising the tariffs higher.”

Trump on Friday announced he would hike existing tariffs applied to about $250 billion in Chinese goods, to 30% from 25% from Oct. 1. He also said a new round of tariffs on $300 billion in goods will be taxed at 15% from 10%.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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