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NewsBreak: Trump Adviser Says Tariffs Could Hit 100% if No China Trade Deal Soon

Published 09/19/2019, 01:18 PM
Updated 09/19/2019, 02:51 PM
© Reuters.

Investing.com – Stocks pulled back from early gains after a China expert who has President Donald Trump's ear said the United States could impose much larger tariffs on Chinese goods unless a trade deal is agreed to soon. Michael Pillsbury, American director of the Center on Chinese Strategy at the Hudson Institute in Washington, made the comments in an interview published Thursday in the South China Morning Post in Hong Kong.

  • The president could impose tariffs of up to 100% on some Chinese goods, Pillsbury said, adding other measures could include access to Wall Street. Pillsbury is best known for his book "The Hundred Year Marathon," which argues Beijing has a century-long plan to usurp the United States as the world’s dominant superpower through various tactics, including technology theft.
  • He charged that China walked away from the basic framework of a trade deal in May when it sent revisions that were heavily revised.
  • Pillsbury downplayed suggestions that China and the United States would agree to a mini-deal involving postponement of tariffs set to start in October and December in exchange for Chinese purchases of U.S. farm products.
  • After the interview was published, the S&P 500 fell 10 points from its highs and was up 0.14% in afternoon trading.

Latest comments

stop talking as if you represent US president, why not start a world war? or else let the world have peace
lets have a compromise or else go to war
if it is US vs China, US wins easily. if it is Trump vs China, China wins eventually.
The president just plays numbers, 10%, 25%, 30%, and then 100%. Why not 1000% now? because he need more steps to pump the stock market, until our citizens have no money in pocket.
Should have known the Koch group is behind all this mess. Explains why there is so much being done without the details being thought out. Trump just their stooge.
In the long run everyone is dead
The reality is very simple. Only a no deal would save America from being surpassed by China. It hurts but it is true, you must be blind not to see that if at least high-tech manufacturing does not return to US then China will become first world power economically, technologically and military. But that is not the main issue, the main issue is that US would collapse because dollar will loose it's value and as world countries will give up their USD reserve the fall in value would be unimaginable, US will be hit by hyperinflation and recession and will then become just another ordinary country. Mark my words, this is the last card.
feels like an ordinary country to me. when I travel is when I see extraordinary things.the only thing extraordinary about the us is the natural landscape. those other regular countries have everything the us has and more. 1st example is a high speed rail.
The reason behind the tariffs. If everyone knew that. They just cant remove the tariffs. USA benefits from it while trying to make China weaker and stop their growth or else they will surpass.
actually I think real purpose of US is not just trade war. I think real purpose of US is changing society system of china. Trade and tariff is just one kind of weapon. tariff, currency, oil, dollar, military action......everything could be done to make china surrender and to make accept plan of US.
Trying to force the fed to cut rates so he'll push a recession on them
everything is going to zero :)
haha
US should get victory against china with US dollar and High oil price........weak point of china could be Dollar liquidity. They don't allow normal chinese spend over 50000 dollar because of Dollar liquidity. // with Tariffs and High Oil price will get rid of US dollar of china......Have you ever heard Asia economy crisis in 1997? US can get more profit by open more chinese monetary market to foreigners. 1~2 year recession then over 10 year mega growth.
U.S should break china. It is not money problem, It is about ****power. Chinese communists really want to dominate whole world instead of US. They really have untrue attitude, and they don't allow freedom of human being.....If U.S don't take China in this moment, US can't Hunt that monster in future because It grown up so huge and strong. (U.S can hunt that monster now, because they are just about 40 percent of power of U.S now......so now U.S can hunt them in hard method. In future even hard method will not work)
You tells the truth, but this wouldn't change anything for the long term. Look at the history of the past 4000 years. The only way to surpass other countries is to develop ourselves.
this is complete bs, market be going up then something like this happens.....become old news
Like negotiating with divorce lawyer
Always a great tweet right before a negotiation to look tough, then when it falls through the crack, he tweets more positive stuff after an equity dump. lol. always aiming at his own foot for some reason.
because Trump can't have it all. low oil. Good trade talks oil goes up. So he has to tweet to bring it down again with bigggg words. same reason he doesn't want to go to war with m.e. the markets will tank and oil will skyrocket.
They seem to want the market to go down . Shut up and dont talk about stuff that will mess the market up. Took like a month for some stuff to get right .
Tariffs will be delayed as long as possible since the longer they are imposed the longer they will hurt voters.
I wish these people would just shut up. The little investor cannot churn out profits on volatility like a hedge fund. Nothing new was said..... we all new that was possible.
pump & dump as always
After the market is pumped up. It's time to dump it. Same scenario as last winter?
Wow! Boots on the table.
they call it negotiate. Soon they will ask a BJ from Xi wife. Not sure it will work. ;)
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